Cary Street Partners Financial LLC Acquires New Shares in Aon plc (NYSE:AON)

Cary Street Partners Financial LLC bought a new position in shares of Aon plc (NYSE:AON - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,986 shares of the financial services provider's stock, valued at approximately $3,227,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in AON by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,519,752 shares of the financial services provider's stock valued at $7,010,714,000 after acquiring an additional 88,361 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AON by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,949,919 shares of the financial services provider's stock valued at $1,773,165,000 after purchasing an additional 627,742 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of AON by 15.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,564,824 shares of the financial services provider's stock worth $921,182,000 after purchasing an additional 343,592 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AON by 2.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,329,221 shares of the financial services provider's stock worth $824,498,000 after purchasing an additional 64,720 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in AON by 9.3% in the 4th quarter. Northern Trust Corp now owns 2,158,943 shares of the financial services provider's stock valued at $775,406,000 after buying an additional 183,442 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Stock Performance

NYSE:AON opened at $355.74 on Tuesday. The firm's fifty day simple moving average is $381.45 and its 200 day simple moving average is $375.67. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.58. Aon plc has a twelve month low of $275.07 and a twelve month high of $412.97. The firm has a market capitalization of $76.82 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.12 and a beta of 0.89.

AON (NYSE:AON - Get Free Report) last issued its earnings results on Friday, April 25th. The financial services provider reported $5.67 earnings per share for the quarter, missing the consensus estimate of $6.04 by ($0.37). The company had revenue of $4.73 billion during the quarter, compared to analysts' expectations of $4.83 billion. AON had a return on equity of 70.84% and a net margin of 16.91%. AON's quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.66 EPS. As a group, equities research analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.745 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.98 dividend on an annualized basis and a yield of 0.84%. This is a positive change from AON's previous quarterly dividend of $0.68. AON's payout ratio is currently 25.38%.

Wall Street Analysts Forecast Growth

AON has been the topic of several recent research reports. Redburn Partners set a $445.00 price objective on AON in a research report on Tuesday, March 25th. Barclays reduced their target price on shares of AON from $430.00 to $415.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Keefe, Bruyette & Woods lowered their price target on shares of AON from $414.00 to $409.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Royal Bank of Canada raised their target price on shares of AON from $390.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Monday, February 3rd. Finally, Piper Sandler upgraded AON from a "neutral" rating to an "overweight" rating and cut their price target for the company from $384.00 to $378.00 in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, AON currently has an average rating of "Hold" and an average price target of $390.67.

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.

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