Mediolanum International Funds Ltd Buys 3,945 Shares of Aon plc $AON

Mediolanum International Funds Ltd boosted its stake in shares of Aon plc (NYSE:AON) by 16.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,645 shares of the financial services provider’s stock after purchasing an additional 3,945 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AON were worth $9,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC raised its holdings in AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after acquiring an additional 3,253 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of AON by 9.1% in the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after purchasing an additional 8,216 shares during the period. Alliancebernstein L.P. boosted its stake in AON by 35.2% during the 2nd quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock valued at $104,249,000 after purchasing an additional 76,061 shares during the period. Diversify Advisory Services LLC increased its position in AON by 27.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock worth $995,000 after buying an additional 583 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of AON by 46.1% in the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after acquiring an additional 12,631 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AON has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of AON from $404.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. Wells Fargo & Company cut their price objective on shares of AON from $409.00 to $406.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Citigroup boosted their price target on AON from $412.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Finally, Piper Sandler cut AON from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $377.00 in a research report on Wednesday. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $404.56.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 600 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total value of $216,000.00. Following the sale, the general counsel owned 15,354 shares of the company’s stock, valued at approximately $5,527,440. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

AON Trading Down 0.1%

AON stock opened at $366.69 on Monday. Aon plc has a 1-year low of $304.59 and a 1-year high of $381.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $332.19 and its 200-day moving average is $331.02. The firm has a market cap of $78.32 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.92 and a beta of 0.71.

AON (NYSE:AON) last posted its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, topping the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the company earned $5.67 EPS. AON’s revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s payout ratio is currently 18.00%.

AON Company Profile

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.