Aon plc (NYSE:AON) Shares Purchased by Grove Bank & Trust

Grove Bank & Trust boosted its holdings in Aon plc (NYSE:AON) by 3,140.7% in the first quarter, HoldingsChannel.com reports. The firm owned 5,412 shares of the financial services provider’s stock after buying an additional 5,245 shares during the quarter. Grove Bank & Trust’s holdings in AON were worth $2,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sagespring Wealth Partners LLC boosted its holdings in shares of AON by 16.5% in the first quarter. Sagespring Wealth Partners LLC now owns 1,705 shares of the financial services provider’s stock valued at $680,000 after acquiring an additional 242 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of AON in the first quarter valued at approximately $260,000. Janney Montgomery Scott LLC boosted its holdings in shares of AON by 3.7% in the first quarter. Janney Montgomery Scott LLC now owns 11,230 shares of the financial services provider’s stock valued at $4,482,000 after acquiring an additional 396 shares during the period. Brighton Jones LLC boosted its holdings in shares of AON by 0.4% in the first quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider’s stock valued at $2,916,000 after acquiring an additional 29 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of AON by 121.6% in the first quarter. Exchange Traded Concepts LLC now owns 277 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 152 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on AON. The Goldman Sachs Group upgraded AON from a “neutral” rating to a “buy” rating and set a $408.00 price target for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. increased their price target on AON from $394.00 to $409.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Evercore ISI decreased their price target on AON from $420.00 to $398.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Barclays decreased their price target on AON from $430.00 to $415.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Redburn Partners set a $445.00 price target on AON in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $397.27.

AON Trading Down 0.9%

NYSE:AON opened at $349.88 on Tuesday. The company has a market capitalization of $75.55 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.12 and a beta of 0.86. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.58. Aon plc has a 52-week low of $285.35 and a 52-week high of $412.97. The stock has a fifty day simple moving average of $361.55 and a 200-day simple moving average of $372.22.

AON (NYSE:AON) last released its quarterly earnings results on Friday, April 25th. The financial services provider reported $5.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.04 by ($0.37). The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.83 billion. AON had a return on equity of 70.84% and a net margin of 16.91%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm earned $5.66 EPS. On average, equities research analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $0.745 dividend. This is an increase from AON’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.98 annualized dividend and a yield of 0.85%. AON’s payout ratio is presently 25.38%.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.