OLD National Bancorp IN Purchases 2,553 Shares of Aon plc $AON

OLD National Bancorp IN grew its position in Aon plc (NYSE:AON) by 119.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,693 shares of the financial services provider’s stock after acquiring an additional 2,553 shares during the period. OLD National Bancorp IN’s holdings in AON were worth $1,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AON. Portside Wealth Group LLC grew its holdings in AON by 530.6% during the first quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider’s stock worth $4,412,000 after purchasing an additional 9,302 shares during the period. WCM Investment Management LLC increased its holdings in shares of AON by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock worth $809,544,000 after acquiring an additional 6,038 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in AON by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider’s stock valued at $11,183,000 after acquiring an additional 1,489 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in AON by 425.3% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider’s stock valued at $761,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Ninety One North America Inc. increased its holdings in shares of AON by 64.4% in the first quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider’s stock valued at $2,986,000 after purchasing an additional 2,932 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

AON Stock Up 0.6%

AON stock opened at $366.15 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. The company has a market cap of $78.95 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.16 and a beta of 0.89. The business has a 50-day simple moving average of $363.72 and a 200 day simple moving average of $363.44.

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

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.745 per share. The ex-dividend date of this dividend 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 24.96%.

Analyst Ratings Changes

A number of research analysts recently commented on AON shares. Barclays reiterated an “overweight” rating and issued a $420.00 price target (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Citigroup initiated coverage on AON in a research note on Wednesday, August 13th. They set a “neutral” rating and a $402.00 target price on the stock. Cantor Fitzgerald upgraded AON to a “strong-buy” rating in a research note on Wednesday, August 13th. Jefferies Financial Group upgraded AON from a “hold” rating to a “buy” rating and increased their price objective for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Finally, Wolfe Research began coverage on shares of AON in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AON currently has a consensus rating of “Moderate Buy” and a consensus price target of $415.06.

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.