iA Global Asset Management Inc. Buys New Position in Aon plc $AON

iA Global Asset Management Inc. acquired a new position in Aon plc (NYSE:AON – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,150 shares of the financial services provider’s stock, valued at approximately $759,000.

A number of other hedge funds also recently modified their holdings of the company. May Hill Capital LLC bought a new stake in shares of AON in the 4th quarter worth approximately $202,000. Beese Fulmer Investment Management Inc. lifted its position in shares of AON by 5.6% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 29,544 shares of the financial services provider’s stock worth $10,425,000 after acquiring an additional 1,567 shares during the period. DNB Asset Management AS lifted its position in shares of AON by 4.8% in the 4th quarter. DNB Asset Management AS now owns 41,361 shares of the financial services provider’s stock worth $14,595,000 after acquiring an additional 1,878 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in shares of AON by 1.9% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,100 shares of the financial services provider’s stock worth $741,000 after acquiring an additional 40 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of AON by 1,864.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 343,754 shares of the financial services provider’s stock worth $121,304,000 after acquiring an additional 326,256 shares during the period. Institutional investors own 86.14% of the company’s stock.

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AON Trading Up 2.9%

AON stock opened at $326.48 on Tuesday. The business has a fifty day moving average price of $322.19 and a 200 day moving average price of $335.20. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The stock has a market capitalization of $69.73 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON – Get Free Report) last released its earnings results 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. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the previous year, the company posted $5.67 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Aon plc will post 19.07 EPS for the current fiscal year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. This is a boost from AON’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, May 1st. AON’s payout ratio is currently 16.36%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their price objective on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Piper Sandler reduced their price objective on AON from $388.00 to $355.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Cantor Fitzgerald increased their target price on AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Finally, Mizuho dropped their target price on AON from $394.00 to $389.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, AON presently has a consensus rating of “Moderate Buy” and an average target price of $397.88.

View Our Latest Research Report on AON

About AON

(Free Report)

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.

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