Rhumbline Advisers Has $112.90 Million Stake in Aon plc (NYSE:AON)

Rhumbline Advisers increased its position in shares of Aon plc (NYSE:AON) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 384,559 shares of the financial services provider’s stock after buying an additional 19,936 shares during the period. Rhumbline Advisers owned 0.18% of AON worth $112,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in AON by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the financial services provider’s stock worth $307,989,000 after buying an additional 5,727 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in AON by 262.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock worth $1,181,000 after purchasing an additional 2,989 shares during the period. California State Teachers Retirement System boosted its position in AON by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 331,760 shares of the financial services provider’s stock worth $96,549,000 after purchasing an additional 4,843 shares during the period. Radnor Capital Management LLC boosted its position in AON by 203.6% during the first quarter. Radnor Capital Management LLC now owns 6,290 shares of the financial services provider’s stock worth $2,099,000 after purchasing an additional 4,218 shares during the period. Finally, Norden Group LLC bought a new position in AON during the first quarter worth $2,044,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Up 0.8 %

AON stock opened at $346.30 on Wednesday. The company has a market cap of $75.23 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.22 and a beta of 0.92. The business has a 50-day simple moving average of $316.75 and a 200 day simple moving average of $308.28. Aon plc has a 52 week low of $268.06 and a 52 week high of $349.84. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned $2.76 EPS. Sell-side analysts anticipate that Aon plc will post 15.23 EPS for the current fiscal year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 0.78%. The ex-dividend date was Thursday, August 1st. AON’s payout ratio is 21.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $313.00 to $380.00 in a research report on Tuesday, July 30th. Morgan Stanley reduced their price objective on shares of AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 price objective on shares of AON in a research report on Monday, August 5th. Piper Sandler boosted their target price on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company boosted their target price on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $333.21.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.