AMF Tjanstepension AB Acquires Shares of 60,279 Aon plc (NYSE:AON)

AMF Tjanstepension AB acquired a new stake in Aon plc (NYSE:AON) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 60,279 shares of the financial services provider’s stock, valued at approximately $20,856,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AON. Y.D. More Investments Ltd acquired a new position in shares of AON in the second quarter valued at about $31,000. Rise Advisors LLC acquired a new position in shares of AON in the first quarter valued at about $37,000. Nemes Rush Group LLC acquired a new position in shares of AON in the second quarter valued at about $45,000. LRI Investments LLC acquired a new position in shares of AON in the first quarter valued at about $55,000. Finally, Bruce G. Allen Investments LLC grew its stake in shares of AON by 52.7% in the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 58 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Performance

NYSE:AON opened at $348.77 on Thursday. The company has a market capitalization of $75.77 billion, a PE ratio of 27.33, a P/E/G ratio of 2.24 and a beta of 0.92. The company has a 50 day simple moving average of $338.62 and a two-hundred day simple moving average of $313.02. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $353.54.

AON (NYSE:AON) last released its earnings results 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 firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. 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 company posted $2.76 EPS. Research analysts anticipate 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 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, August 1st. AON’s dividend payout ratio is currently 21.16%.

Analysts Set New Price Targets

Several research firms recently weighed in on AON. Morgan Stanley cut their price objective on shares of AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 price objective on shares of AON in a research report on Monday, August 5th. Piper Sandler upped their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, Barclays began coverage on shares of AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, AON currently has an average rating of “Hold” and an average price target 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.