Prudential PLC Boosts Holdings in Aon plc (NYSE:AON)

Prudential PLC raised its holdings in Aon plc (NYSE:AON) by 60.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,804 shares of the financial services provider’s stock after purchasing an additional 4,428 shares during the quarter. Prudential PLC’s holdings in AON were worth $4,711,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Relyea Zuckerberg Hanson LLC boosted its position in shares of AON by 1.9% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,427 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 27 shares during the period. Brighton Jones LLC increased its position in shares of AON by 0.4% during the first quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider’s stock worth $2,916,000 after acquiring an additional 29 shares during the period. HHM Wealth Advisors LLC raised its stake in shares of AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 29 shares in the last quarter. Catalyst Financial Partners LLC raised its stake in shares of AON by 2.6% in the first quarter. Catalyst Financial Partners LLC now owns 1,200 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 30 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its stake in shares of AON by 0.3% in the first quarter. Wesbanco Bank Inc. now owns 11,940 shares of the financial services provider’s stock valued at $4,765,000 after acquiring an additional 31 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AON has been the topic of several analyst reports. Piper Sandler increased their price objective on AON from $393.00 to $413.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods reduced their price objective on AON from $414.00 to $409.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded AON from a “hold” rating to a “buy” rating and increased their price objective for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. Cantor Fitzgerald initiated coverage on shares of AON in a research report on Tuesday. They set an “overweight” rating and a $440.00 price objective for the company. Finally, Evercore ISI lifted their price objective on shares of AON from $411.00 to $421.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $410.69.

AON Price Performance

Shares of AON opened at $370.88 on Thursday. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The stock has a market cap of $79.97 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 2.15 and a beta of 0.83. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a fifty day moving average price of $357.55 and a 200 day moving average price of $370.68.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share 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 firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the company earned $2.93 earnings per share. AON’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $0.745 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. AON’s payout ratio is 24.96%.

AON 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.