GK Wealth Management LLC Makes New $281,000 Investment in Aon plc $AON

GK Wealth Management LLC purchased a new position in shares of Aon plc (NYSE:AON) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 705 shares of the financial services provider’s stock, valued at approximately $281,000.

A number of other institutional investors have also made changes to their positions in the company. Portside Wealth Group LLC lifted its holdings in AON by 530.6% in the 1st quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider’s stock worth $4,412,000 after buying an additional 9,302 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of AON by 0.3% in the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock worth $809,544,000 after acquiring an additional 6,038 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of AON by 5.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider’s stock worth $11,183,000 after acquiring an additional 1,489 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of AON by 425.3% in the first quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider’s stock worth $761,000 after acquiring an additional 1,544 shares in the last quarter. Finally, Ninety One North America Inc. raised its position in shares of AON by 64.4% in the 1st quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider’s stock valued at $2,986,000 after purchasing an additional 2,932 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AON. Wells Fargo & Company restated an “overweight” rating and set a $438.00 price objective (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. Evercore ISI upped their price target on AON from $411.00 to $421.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Jefferies Financial Group raised shares of AON from a “hold” rating to a “buy” rating and increased their target price for the stock from $400.00 to $426.00 in a report on Wednesday, July 30th. Citigroup started coverage on shares of AON in a research note on Wednesday, August 13th. They set a “neutral” rating and a $402.00 price objective on the stock. Finally, Piper Sandler increased their target price on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $412.69.

AON Stock Down 1.2%

AON stock opened at $362.14 on Thursday. The stock has a market cap of $78.09 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 2.17 and a beta of 0.87. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The company’s 50-day moving average price is $363.21 and its two-hundred day moving average price is $368.87. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the business earned $2.93 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts expect that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.745 per share. The ex-dividend date was Friday, August 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. AON’s dividend payout ratio (DPR) is 24.96%.

AON Company Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.