Abacus Planning Group Inc. Purchases 45 Shares of Aon plc (NYSE:AON)

Abacus Planning Group Inc. lifted its position in Aon plc (NYSE:AON) by 4.6% in the 3rd quarter, Holdings Channel reports. The fund owned 1,026 shares of the financial services provider’s stock after acquiring an additional 45 shares during the quarter. Abacus Planning Group Inc.’s holdings in AON were worth $355,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AON. Y.D. More Investments Ltd bought a new stake in shares of AON during the 2nd quarter valued at $31,000. Rise Advisors LLC purchased a new position in shares of AON during the first quarter valued at approximately $37,000. Nemes Rush Group LLC bought a new stake in shares of AON in the 2nd quarter worth approximately $45,000. Bruce G. Allen Investments LLC increased its position in AON by 52.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after buying an additional 58 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in AON during the first quarter valued at $55,000. 86.14% of the stock is currently owned by institutional investors.

AON Trading Up 0.1 %

Shares of AON stock opened at $348.77 on Thursday. The company has a market cap of $75.77 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.24 and a beta of 0.92. 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 fifty day moving average price of $338.62 and a 200-day moving average price of $313.02. Aon plc has a 1 year low of $268.06 and a 1 year high of $353.54.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.76 earnings per share. As a group, equities analysts predict that Aon plc will post 15.23 earnings per share for the current year.

AON Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AON. Royal Bank of Canada restated a “sector perform” rating and set a $335.00 price target on shares of AON in a report on Monday, August 5th. Keefe, Bruyette & Woods upgraded shares of AON from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $313.00 to $380.00 in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price target 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. Piper Sandler upped their price objective on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Morgan Stanley reduced their target price on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, AON has a consensus rating of “Hold” and a consensus target price of $337.27.

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.