Choreo LLC Boosts Stake in Aon plc (NYSE:AON)

Choreo LLC boosted its holdings in shares of Aon plc (NYSE:AON) by 953.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,817 shares of the financial services provider’s stock after acquiring an additional 6,170 shares during the period. Choreo LLC’s holdings in AON were worth $2,001,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of AON in the fourth quarter valued at approximately $423,030,000. Meritage Group LP purchased a new position in shares of AON during the 1st quarter worth $258,471,000. Farallon Capital Management LLC acquired a new position in shares of AON during the 1st quarter valued at about $210,911,000. Bank of New York Mellon Corp grew its holdings in shares of AON by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock valued at $587,445,000 after purchasing an additional 548,563 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in AON by 32.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock worth $648,663,000 after purchasing an additional 471,424 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AON has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods raised AON from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $313.00 to $380.00 in a research note on Tuesday, July 30th. Barclays began coverage on AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target on the stock. Piper Sandler raised their price objective on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $337.27.

AON Stock Up 0.2 %

AON stock opened at $351.08 on Wednesday. The firm has a market capitalization of $76.27 billion, a P/E ratio of 27.51, a P/E/G ratio of 2.24 and a beta of 0.92. The stock’s fifty day simple moving average is $322.40 and its 200-day simple moving average is $309.54. Aon plc has a twelve month low of $268.06 and a twelve month high of $352.49. The company has a current ratio of 2.42, a quick 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period in the prior year, the business earned $2.76 EPS. AON’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, equities analysts expect that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.675 dividend. The ex-dividend date was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.77%. AON’s payout ratio is 21.16%.

AON Profile

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.