Edge Capital Group LLC Invests $407,000 in Aon plc (NYSE:AON)

Edge Capital Group LLC bought a new stake in Aon plc (NYSE:AON) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,388 shares of the financial services provider’s stock, valued at approximately $407,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Proficio Capital Partners LLC raised its position in shares of AON by 3.9% during the 1st quarter. Proficio Capital Partners LLC now owns 1,016 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 38 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in AON by 5.5% during the first quarter. Avantax Advisory Services Inc. now owns 729 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 38 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of AON by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,724 shares of the financial services provider’s stock worth $502,000 after buying an additional 39 shares during the last quarter. Essex Financial Services Inc. grew its position in shares of AON by 4.0% in the 2nd quarter. Essex Financial Services Inc. now owns 1,036 shares of the financial services provider’s stock valued at $304,000 after buying an additional 40 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in AON by 11.1% during the 1st quarter. GAMMA Investing LLC now owns 410 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 41 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Performance

Shares of AON stock opened at $347.03 on Monday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. The stock has a 50 day simple moving average of $330.75 and a 200-day simple moving average of $311.36. The company has a market cap of $75.46 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. Aon plc has a 12-month low of $268.06 and a 12-month high of $353.54.

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

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio is currently 21.16%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AON shares. Piper Sandler raised their price objective on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 price target on shares of AON in a research report on Monday, August 5th. Barclays began coverage on AON in a report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price objective for the company. Morgan Stanley cut their target price on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $313.00 to $380.00 in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AON presently has an average rating of “Hold” and a consensus target price of $337.27.

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.