Public Sector Pension Investment Board Raises Position in Aon plc (NYSE:AON)

Public Sector Pension Investment Board raised its holdings in Aon plc (NYSE:AON) by 17.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 36,829 shares of the financial services provider’s stock after acquiring an additional 5,341 shares during the quarter. Public Sector Pension Investment Board’s holdings in AON were worth $10,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Edge Capital Group LLC bought a new stake in shares of AON during the 2nd quarter worth $407,000. EverSource Wealth Advisors LLC raised its holdings in shares of AON by 5.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the financial services provider’s stock valued at $250,000 after buying an additional 45 shares in the last quarter. Independent Franchise Partners LLP lifted its position in AON by 2.1% in the 2nd quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock worth $707,390,000 after buying an additional 49,161 shares during the last quarter. 1832 Asset Management L.P. grew its position in AON by 326.4% during the second quarter. 1832 Asset Management L.P. now owns 15,689 shares of the financial services provider’s stock valued at $4,606,000 after acquiring an additional 12,010 shares during the last quarter. Finally, Stone Point Capital LLC bought a new stake in shares of AON in the 2nd quarter worth approximately $151,808,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on AON shares. Keefe, Bruyette & Woods upgraded shares of AON from an “underperform” rating to an “outperform” rating and upped their price target for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research report 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 target price on the stock. Wells Fargo & Company boosted their price objective 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $335.00 target price on shares of AON in a report on Monday, August 5th. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $337.27.

AON Stock Up 0.4 %

Shares of AON stock opened at $348.52 on Tuesday. Aon plc has a 1 year low of $268.06 and a 1 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 company has a 50-day moving average of $331.77 and a 200 day moving average of $311.58. The firm has a market cap of $75.78 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.26 and a beta of 0.92.

AON (NYSE:AON) last issued 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 company had revenue of $3.76 billion during 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%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.76 earnings per share. As a group, sell-side analysts anticipate 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. Investors of record on Thursday, August 1st were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio (DPR) 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.