Nippon Life Global Investors Americas Inc. Purchases 59,620 Shares of Aon plc $AON

Nippon Life Global Investors Americas Inc. grew its holdings in shares of Aon plc (NYSE:AONFree Report) by 169.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 94,730 shares of the financial services provider’s stock after buying an additional 59,620 shares during the period. AON makes up 1.4% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 25th largest position. Nippon Life Global Investors Americas Inc.’s holdings in AON were worth $33,779,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Focus Financial Network Inc. boosted its stake in AON by 5.7% during the second quarter. Focus Financial Network Inc. now owns 577 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 31 shares in the last quarter. Swedbank AB boosted its position in shares of AON by 4.4% in the 2nd quarter. Swedbank AB now owns 58,487 shares of the financial services provider’s stock worth $20,866,000 after purchasing an additional 2,475 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of AON by 2.4% in the 2nd quarter. Fulton Bank N.A. now owns 1,619 shares of the financial services provider’s stock worth $578,000 after buying an additional 38 shares during the last quarter. Perpetual Ltd increased its position in AON by 7.5% during the 2nd quarter. Perpetual Ltd now owns 1,356 shares of the financial services provider’s stock valued at $484,000 after buying an additional 95 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after buying an additional 33 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AON has been the subject of several analyst reports. Barclays raised their price target on AON from $379.00 to $381.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Cantor Fitzgerald reduced their price objective on shares of AON from $450.00 to $393.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley set a $400.00 price target on shares of AON in a report on Tuesday, December 16th. Evercore ISI restated an “outperform” rating and issued a $436.00 price objective on shares of AON in a report on Wednesday, January 7th. Finally, The Goldman Sachs Group set a $395.00 target price on AON in a research note on Wednesday, January 7th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $408.47.

Get Our Latest Stock Report on AON

AON Stock Down 0.3%

AON stock opened at $343.74 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $73.88 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 1.74 and a beta of 0.84. Aon plc has a fifty-two week low of $323.73 and a fifty-two week high of $412.97. The business’s 50-day moving average is $349.77 and its two-hundred day moving average is $354.90.

AON (NYSE:AONGet Free Report) last released its earnings results on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.14. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.97 billion. AON had a return on equity of 48.88% and a net margin of 15.96%.AON’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.72 earnings per share. As a group, analysts forecast that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be issued a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, February 2nd. AON’s dividend payout ratio is currently 23.88%.

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About AON

(Free Report)

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.

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Institutional Ownership by Quarter for AON (NYSE:AON)

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