Deutsche Bank AG lifted its position in shares of Aon plc (NYSE:AON – Free Report) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 795,630 shares of the financial services provider’s stock after purchasing an additional 182,923 shares during the period. Deutsche Bank AG’s holdings in AON were worth $280,762,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of AON. Sound View Wealth Advisors Group LLC lifted its holdings in AON by 1.5% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock worth $683,000 after buying an additional 29 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of AON by 2.1% during the fourth quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 32 shares during the last quarter. Westpac Banking Corp lifted its holdings in shares of AON by 5.6% during the third quarter. Westpac Banking Corp now owns 620 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 33 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of AON by 1.8% during the fourth quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 33 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its holdings in shares of AON by 39.3% during the fourth quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 33 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AON has been the subject of several analyst reports. Piper Sandler raised their price target on shares of AON from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. reduced their price objective on AON from $406.00 to $396.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Morgan Stanley reduced their price objective on AON from $380.00 to $370.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Mizuho reduced their price objective on AON from $394.00 to $389.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Finally, Keefe, Bruyette & Woods cut their target price on shares of AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.81.
AON Trading Up 1.7%
Shares of AON stock opened at $337.09 on Thursday. The company has a market capitalization of $71.99 billion, a P/E ratio of 18.50, a P/E/G ratio of 1.74 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The company has a fifty day moving average of $322.16 and a 200 day moving average of $332.74. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00.
AON (NYSE:AON – Get Free Report) last issued its 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 net margin of 22.54% and a return on equity of 43.50%. AON’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.67 EPS. On average, sell-side analysts anticipate that Aon plc will post 19.1 earnings per share for the current fiscal year.
AON Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 1st. This is an increase from AON’s previous quarterly dividend of $0.75. AON’s dividend payout ratio is presently 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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