JPMorgan Chase & Co. reduced its position in Aon plc (NYSE:AON – Free Report) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,192,216 shares of the financial services provider’s stock after selling 152,881 shares during the period. JPMorgan Chase & Co. owned 1.49% of AON worth $1,126,470,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in AON. Dodge & Cox purchased a new stake in shares of AON in the 3rd quarter valued at about $1,235,437,000. Norges Bank purchased a new position in shares of AON during the fourth quarter worth about $1,155,981,000. Viking Global Investors LP purchased a new position in shares of AON during the third quarter worth about $504,424,000. Balyasny Asset Management L.P. grew its holdings in shares of AON by 40,219.8% during the third quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock worth $301,922,000 after buying an additional 844,615 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its holdings in shares of AON by 41.6% during the third quarter. Independent Franchise Partners LLP now owns 2,096,486 shares of the financial services provider’s stock worth $747,565,000 after buying an additional 615,570 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AON has been the topic of a number of research reports. Piper Sandler raised their price target on AON from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Mizuho lowered their price target on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Bank of America raised 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 report on Friday, February 27th. Finally, Morgan Stanley lowered their price target on AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, AON presently has a consensus rating of “Moderate Buy” and an average target price of $396.81.
AON Price Performance
Shares of NYSE:AON opened at $331.26 on Wednesday. The business’s 50 day simple moving average is $321.90 and its 200-day simple moving average is $332.80. The firm has a market capitalization of $70.75 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.71 and a beta of 0.71. 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 plc has a 12 month low of $304.59 and a 12 month high of $381.00.
AON (NYSE:AON – Get Free Report) last released its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.37 by $0.11. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.AON’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.67 earnings per share. As a group, equities analysts forecast that Aon plc will post 19.1 earnings per share for the current fiscal year.
AON Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.82 dividend. This is a boost from AON’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 1st. This represents a $3.28 annualized dividend and a yield of 1.0%. AON’s payout ratio is presently 16.36%.
AON Profile
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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