Legacy Capital Group California Inc. Raises Stock Position in Aon plc (NYSE:AON)

Legacy Capital Group California Inc. lifted its holdings in Aon plc (NYSE:AON) by 3.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,343 shares of the financial services provider’s stock after purchasing an additional 46 shares during the period. Legacy Capital Group California Inc.’s holdings in AON were worth $464,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AON. BlackRock Inc. grew its position in shares of AON by 1.5% during the first quarter. BlackRock Inc. now owns 13,947,244 shares of the financial services provider’s stock worth $4,397,426,000 after buying an additional 210,313 shares in the last quarter. WCM Investment Management LLC increased its position in shares of AON by 0.7% in the 2nd quarter. WCM Investment Management LLC now owns 5,033,579 shares of the financial services provider’s stock valued at $1,737,592,000 after purchasing an additional 37,097 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of AON by 106,777.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,817,279 shares of the financial services provider’s stock valued at $845,578,000 after purchasing an additional 2,814,643 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in shares of AON by 41.8% during the 2nd quarter. Sustainable Growth Advisers LP now owns 2,547,402 shares of the financial services provider’s stock worth $879,363,000 after purchasing an additional 751,015 shares during the last quarter. Finally, GQG Partners LLC increased its holdings in AON by 1.7% in the first quarter. GQG Partners LLC now owns 2,237,353 shares of the financial services provider’s stock valued at $705,415,000 after buying an additional 36,505 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on AON from $322.00 to $318.00 and set a “neutral” rating for the company in a research report on Monday, October 30th. Morgan Stanley increased their price target on shares of AON from $340.00 to $357.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Royal Bank of Canada lowered their target price on shares of AON from $352.00 to $342.00 and set a “sector perform” rating for the company in a report on Monday, October 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of AON in a research note on Wednesday, October 4th. They set a “hold” rating and a $361.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on shares of AON from $331.00 to $339.00 in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $344.08.

AON Stock Performance

Shares of NYSE AON traded down $3.92 during midday trading on Friday, reaching $329.74. 1,419,073 shares of the company were exchanged, compared to its average volume of 895,273. The stock has a market cap of $66.02 billion, a P/E ratio of 25.08, a PEG ratio of 2.08 and a beta of 0.93. Aon plc has a 1 year low of $280.89 and a 1 year high of $347.37. The stock has a fifty day simple moving average of $326.93 and a 200 day simple moving average of $327.04. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 61.66.

AON (NYSE:AON) last announced its earnings results on Friday, October 27th. The financial services provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.11. AON had a negative return on equity of 1,685.76% and a net margin of 20.74%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted $2.02 EPS. The company’s revenue was up 9.5% on a year-over-year basis. On average, research analysts forecast that Aon plc will post 14.35 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a dividend of $0.615 per share. The ex-dividend date was Tuesday, October 31st. This represents a $2.46 dividend on an annualized basis and a dividend yield of 0.75%. AON’s dividend payout ratio (DPR) is 18.71%.

Insider Buying and Selling

In other AON news, Director Byron Spruell acquired 800 shares of the stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $324.57 per share, with a total value of $259,656.00. Following the acquisition, the director now owns 4,001 shares of the company’s stock, valued at $1,298,604.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.15% of the stock is currently owned by corporate insiders.

AON Profile

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health 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.