Aberdeen Group plc Increases Position in Aon plc $AON

Key Points

• Aberdeen Group plc increased its stake in Aon plc by 5.6% during the second quarter, now owning approximately 0.07% of the company, valued at $54.29 million.
• Analyst ratings for Aon show a general consensus of a "Moderate Buy", with a target price of $420.00 and various firms adjusting their price objectives upwards.
• Aon reported a quarterly earnings per share (EPS) of $3.49, exceeding estimates and demonstrating a 10.5% revenue increase year-over-year, totaling $4.16 billion.

Aberdeen Group plc grew its stake in Aon plc (NYSE:AON - Free Report) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,186 shares of the financial services provider's stock after acquiring an additional 8,050 shares during the quarter. Aberdeen Group plc owned about 0.07% of AON worth $54,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of AON in the 1st quarter valued at $28,000. Saudi Central Bank purchased a new position in shares of AON in the 1st quarter valued at $31,000. Pinnacle Bancorp Inc. increased its holdings in shares of AON by 56.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 33 shares during the period. HHM Wealth Advisors LLC increased its holdings in shares of AON by 54.7% in the 1st 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 during the period. Finally, Tsfg LLC purchased a new position in shares of AON in the 1st quarter valued at $37,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wolfe Research assumed coverage on AON in a research report on Monday, September 15th. They issued a "peer perform" rating for the company. Piper Sandler raised their price objective on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wells Fargo & Company lowered their price objective on AON from $451.00 to $448.00 and set an "overweight" rating for the company in a research report on Wednesday. Morgan Stanley raised AON from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $385.00 to $430.00 in a research report on Thursday, September 11th. Finally, Barclays reissued an "overweight" rating and issued a $420.00 price objective (up previously from $401.00) on shares of AON in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $420.00.

AON Stock Performance

Shares of AON opened at $359.82 on Friday. The stock has a 50-day moving average of $364.41 and a two-hundred day moving average of $362.78. Aon plc has a one year low of $323.73 and a one year high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market cap of $77.59 billion, a P/E ratio of 30.14, a P/E/G ratio of 2.14 and a beta of 0.89.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%.The company had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the previous year, the firm posted $2.93 EPS. The firm's revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that Aon plc will post 17.21 EPS for the current year.

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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