State of Alaska Department of Revenue Boosts Holdings in Aon plc $AON

State of Alaska Department of Revenue increased its position in shares of Aon plc (NYSE:AON) by 18.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 29,935 shares of the financial services provider’s stock after purchasing an additional 4,600 shares during the quarter. State of Alaska Department of Revenue’s holdings in AON were worth $10,679,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. acquired a new position in shares of AON in the 1st quarter valued at $28,000. Saudi Central Bank purchased a new stake in AON in the 1st quarter valued at about $31,000. Pinnacle Bancorp Inc. boosted its stake in AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock worth $32,000 after buying an additional 33 shares during the period. HHM Wealth Advisors LLC increased its position in shares of AON by 54.7% during the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 29 shares during the last quarter. Finally, Tsfg LLC purchased a new stake in shares of AON in the 1st quarter valued at approximately $37,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Price Performance

AON stock opened at $356.24 on Friday. The business’s 50-day moving average is $363.72 and its two-hundred day moving average is $364.99. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $76.82 billion, a P/E ratio of 29.84, a P/E/G ratio of 2.11 and a beta of 0.87. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97.

AON (NYSE:AON) last announced its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.09. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 earnings per share. Analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $0.745 per share. The ex-dividend date was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON’s payout ratio is presently 24.96%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AON shares. TD Cowen dropped their target price on shares of AON from $427.00 to $419.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $438.00 price objective (up from $436.00) on shares of AON in a research note on Thursday, July 10th. Barclays reissued an “overweight” rating and set a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Cantor Fitzgerald upgraded shares of AON to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group raised shares of AON from a “hold” rating to a “buy” rating and raised their price objective for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $414.69.

AON Profile

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.