Ilmarinen Mutual Pension Insurance Co Boosts Stock Holdings in Aon plc $AON

Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Aon plc (NYSE:AON) by 229.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,272 shares of the financial services provider’s stock after acquiring an additional 35,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in AON were worth $17,740,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AON. Westside Investment Management Inc. grew its stake in AON by 100.0% during the third quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in AON during the third quarter valued at $25,000. Eagle Bay Advisors LLC purchased a new position in AON during the fourth quarter valued at $30,000. Strive Asset Management LLC purchased a new position in AON during the third quarter valued at $35,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in AON during the third quarter valued at $37,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AON has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of AON in a research note on Monday, March 16th. Cantor Fitzgerald raised their target price on shares of AON from $393.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Piper Sandler increased their price objective on shares of AON from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of AON from $406.00 to $396.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Wells Fargo & Company lowered their price objective on shares of AON from $443.00 to $402.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $396.81.

AON Price Performance

AON stock opened at $318.36 on Friday. The firm has a market capitalization of $67.99 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The firm has a 50-day moving average price of $321.76 and a 200-day moving average price of $334.28. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.37 by $0.11. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.67 earnings per share. As a group, equities research analysts forecast that Aon plc will post 19.1 EPS for the current year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.82 per share. This is a positive change from AON’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. AON’s payout ratio is currently 16.36%.

About AON

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.