Aigen Investment Management LP Takes $6.07 Million Position in Aon plc (NYSE:AON)

Key Points

• Aigen Investment Management LP has acquired a new stake of approximately $6.07 million in Aon plc, representing 1.0% of its investment portfolio.
• Aon plc reported a 10.5% increase in quarterly revenue year-over-year, achieving earnings of $3.49 per share, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.745 per share, with an annualized yield of 0.8%, reflecting a payout ratio of 24.96%.

Aigen Investment Management LP bought a new stake in shares of Aon plc (NYSE:AON - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,211 shares of the financial services provider's stock, valued at approximately $6,071,000. AON accounts for about 1.0% of Aigen Investment Management LP's investment portfolio, making the stock its 3rd biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC grew its holdings in AON by 1.9% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,427 shares of the financial services provider's stock valued at $570,000 after buying an additional 27 shares in the last quarter. Value Partners Investments Inc. lifted its position in AON by 1.9% in the 4th quarter. Value Partners Investments Inc. now owns 1,485 shares of the financial services provider's stock worth $533,000 after buying an additional 28 shares during the last quarter. Brighton Jones LLC lifted its position in AON by 0.4% in the 1st quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock worth $2,916,000 after buying an additional 29 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in AON by 54.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock worth $33,000 after buying an additional 29 shares during the last quarter. Finally, Catalyst Financial Partners LLC lifted its position in 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 purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on AON. Jefferies Financial Group upgraded AON from a "hold" rating to a "buy" rating and boosted their price objective for the company from $400.00 to $426.00 in a research report on Wednesday, July 30th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $438.00 price target (up from $436.00) on shares of AON in a research note on Thursday, July 10th. Piper Sandler increased their target price on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Evercore ISI increased their target price on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Cantor Fitzgerald started coverage on AON in a report on Tuesday. They set an "overweight" rating and a $440.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, AON currently has a consensus rating of "Moderate Buy" and a consensus price target of $411.27.

AON Stock Performance

Shares of NYSE AON traded down $3.92 during trading on Tuesday, hitting $364.17. The company had a trading volume of 2,991,570 shares, compared to its average volume of 1,439,607. The stock has a 50 day simple moving average of $357.60 and a 200 day simple moving average of $370.68. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. Aon plc has a 12 month low of $323.73 and a 12 month high of $412.97. The firm has a market capitalization of $78.53 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 2.18 and a beta of 0.83.

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

AON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 1st. AON's dividend payout ratio (DPR) is currently 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.