Quarry LP Buys New Position in Aon plc (NYSE:AON)

Quarry LP purchased a new position in shares of Aon plc (NYSE:AON) in the 2nd quarter, Holdings Channel reports. The firm purchased 344 shares of the financial services provider’s stock, valued at approximately $101,000.

A number of other institutional investors have also made changes to their positions in AON. NewEdge Advisors LLC increased its stake in AON by 50.5% in the 2nd quarter. NewEdge Advisors LLC now owns 11,266 shares of the financial services provider’s stock valued at $3,307,000 after buying an additional 3,781 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of AON by 54.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 23,918 shares of the financial services provider’s stock valued at $7,022,000 after acquiring an additional 8,436 shares in the last quarter. Silver Lake Advisory LLC acquired a new stake in shares of AON in the second quarter valued at about $225,000. Nemes Rush Group LLC acquired a new position in AON during the second quarter valued at approximately $45,000. Finally, Creative Planning grew its stake in AON by 9.2% in the second quarter. Creative Planning now owns 35,822 shares of the financial services provider’s stock valued at $10,517,000 after purchasing an additional 3,016 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Barclays assumed coverage on shares of AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Wells Fargo & Company upped their target price on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a report on Monday, July 29th. Morgan Stanley reduced their price target on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $313.00 to $380.00 in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AON has a consensus rating of “Hold” and a consensus target price of $337.27.

AON Stock Performance

Shares of NYSE AON opened at $348.51 on Wednesday. Aon plc has a one year low of $268.06 and a one year high of $353.54. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a market cap of $75.71 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 2.24 and a beta of 0.92. The stock’s fifty day moving average price is $337.61 and its two-hundred day moving average price is $312.77.

AON (NYSE:AON) last released 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 business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. AON’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.76 earnings per share. On average, equities analysts forecast that Aon plc will post 15.23 EPS for the current year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.675 dividend. The ex-dividend date of this dividend 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 Company 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.