K.J. Harrison & Partners Inc Takes Position in Aon plc $AON

K.J. Harrison & Partners Inc purchased a new stake in shares of Aon plc (NYSE:AON) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,000 shares of the financial services provider’s stock, valued at approximately $1,937,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC purchased a new stake in AON in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of AON during the 4th quarter worth $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of AON during the 4th quarter worth about $29,000. Eagle Bay Advisors LLC purchased a new stake in AON in the 4th quarter valued at about $30,000. Finally, Strive Asset Management LLC acquired a new position in AON in the third quarter valued at about $35,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Trading Down 0.2%

Shares of AON stock opened at $356.89 on Friday. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The company has a 50 day moving average price of $323.63 and a 200 day moving average price of $330.77. The stock has a market capitalization of $76.23 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 1.88 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95.

AON (NYSE:AON) last posted its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.67 earnings per share. Equities research analysts predict that Aon plc will post 19.09 EPS for the current fiscal year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a $0.82 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. This is an increase from AON’s previous quarterly dividend of $0.74. AON’s dividend payout ratio is 18.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AON shares. Citigroup lifted their price target on shares of AON from $412.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their target price on shares of AON from $406.00 to $396.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Wells Fargo & Company cut their target price on AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Piper Sandler lowered their price target on AON from $360.00 to $355.00 and set an “overweight” rating for the company in a research report on Monday, June 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AON presently has an average rating of “Moderate Buy” and a consensus price target of $394.94.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.