Capital World Investors grew its position in shares of Aon plc (NYSE:AON – Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,252,904 shares of the financial services provider’s stock after buying an additional 176,207 shares during the quarter. Capital World Investors owned 5.70% of AON worth $4,323,850,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of AON by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider’s stock worth $7,117,960,000 after purchasing an additional 191,658 shares during the period. State Street Corp grew its stake in shares of AON by 1.2% during the 3rd quarter. State Street Corp now owns 9,229,464 shares of the financial services provider’s stock worth $3,291,048,000 after purchasing an additional 105,154 shares during the period. Geode Capital Management LLC grew its stake in shares of AON by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 5,141,363 shares of the financial services provider’s stock worth $1,810,726,000 after purchasing an additional 28,066 shares during the period. Dodge & Cox acquired a new position in shares of AON during the 3rd quarter worth $1,235,437,000. Finally, Norges Bank acquired a new position in shares of AON during the 4th quarter worth $1,155,981,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on AON. Keefe, Bruyette & Woods lowered their price target on shares of AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley lowered their price target on shares of AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. TD Cowen reaffirmed a “buy” rating on shares of AON in a research note on Monday, March 16th. Bank of America raised shares of AON from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $398.00 to $397.00 in a research note on Friday, February 27th. Finally, Wells Fargo & Company lowered their price target on shares of AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AON currently has an average rating of “Moderate Buy” and a consensus price target of $396.81.
AON Price Performance
Shares of NYSE AON opened at $328.85 on Friday. The stock has a market cap of $70.24 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.73 and a beta of 0.71. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. The company’s 50-day moving average price is $321.49 and its 200 day moving average price is $333.17. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36.
AON (NYSE:AON – Get Free Report) last issued its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.67 EPS. As a group, research analysts forecast that Aon plc will post 19.1 earnings per share for the current fiscal year.
AON Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.75. AON’s dividend payout ratio is currently 16.36%.
About AON
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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