5,792 Shares in Aon plc $AON Purchased by Tealwood Asset Management Inc.

Key Points

• Tealwood Asset Management Inc. acquired 5,792 shares of Aon plc, valued at approximately $2,066,000, during the 2nd quarter, indicating growing institutional interest.
• Aon reported a 10.5% year-over-year increase in quarterly revenue, hitting $4.16 billion and earnings per share of $3.49, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.745, reflecting a 0.8% dividend yield and a payout ratio of 24.96%.

Tealwood Asset Management Inc. purchased a new position in shares of Aon plc (NYSE:AON - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,792 shares of the financial services provider's stock, valued at approximately $2,066,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in AON by 1.3% during the first quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider's stock worth $7,893,382,000 after purchasing an additional 258,699 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock worth $1,210,864,000 after purchasing an additional 469,238 shares in the last quarter. Polen Capital Management LLC boosted its position in shares of AON by 318.1% in the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock worth $1,200,350,000 after buying an additional 2,288,397 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AON by 2.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider's stock worth $954,053,000 after buying an additional 61,350 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of AON by 6.1% in the 1st quarter. Northern Trust Corp now owns 2,290,619 shares of the financial services provider's stock worth $914,163,000 after buying an additional 131,676 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Trading Down 0.5%

Shares of AON opened at $354.28 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $76.39 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.11 and a beta of 0.87. The stock's fifty day simple moving average is $363.79 and its 200 day simple moving average is $364.47. Aon plc has a twelve month low of $323.73 and a twelve month high of $412.97.

AON (NYSE:AON - Get Free Report) last issued its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.09. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The business's quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $2.93 EPS. On average, equities research analysts forecast that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.745 dividend. The ex-dividend date was Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.8%. AON's dividend payout ratio (DPR) is presently 24.96%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $438.00 price target (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. TD Cowen reduced their target price on AON from $427.00 to $419.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Barclays reaffirmed an "overweight" rating and issued a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Piper Sandler upped their price objective on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Evercore ISI upped their price objective on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AON has an average rating of "Moderate Buy" and an average target price of $414.69.

AON Company 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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