Magnetar Financial LLC Makes New $4.71 Million Investment in Aon plc (NYSE:AON)

Magnetar Financial LLC purchased a new stake in Aon plc (NYSE:AON) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 16,028 shares of the financial services provider’s stock, valued at approximately $4,706,000.

A number of other hedge funds have also modified their holdings of the business. Gryphon Financial Partners LLC lifted its position in AON by 262.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 2,989 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of AON by 1.5% during the 4th 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 increased its holdings in AON by 203.6% in the 1st quarter. Radnor Capital Management LLC now owns 6,290 shares of the financial services provider’s stock valued at $2,099,000 after purchasing an additional 4,218 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in AON in the second quarter valued at approximately $31,000. Finally, Norden Group LLC acquired a new position in AON during the first quarter worth $2,044,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AON. Morgan Stanley dropped their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Piper Sandler increased their price target on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $335.00 price objective 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 increased their target price for the stock from $313.00 to $380.00 in a report on Tuesday, July 30th. Finally, Barclays started coverage on shares of AON in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, AON has an average rating of “Hold” and a consensus target price of $337.27.

AON Price Performance

Shares of NYSE AON opened at $347.03 on Monday. The stock’s 50-day simple moving average is $330.75 and its 200-day simple moving average is $311.36. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market capitalization of $75.46 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $353.54.

AON (NYSE:AON) last posted its 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). 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 analysts’ expectations of $3.74 billion. During the same period last year, the business earned $2.76 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts forecast that Aon plc will post 15.23 EPS for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given 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 0.78%. AON’s dividend payout ratio (DPR) is presently 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.