Allstate Corp Boosts Stock Holdings in Aon plc $AON

Key Points

• Allstate Corp increased its stake in Aon plc by 15.7% during the first quarter, now owning 6,856 shares valued at approximately $2.736 million.
• Aon has received mixed analyst ratings, with notable upgrades, including a shift to a "strong-buy" from Cantor Fitzgerald and a target price adjustment from various firms, indicating a consensus average price target of $409.18.
• The company declared a quarterly dividend of $0.745 per share, resulting in an annual yield of 0.8%, with a reported dividend payout ratio of 24.96%.

Allstate Corp lifted its holdings in Aon plc (NYSE:AON - Free Report) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,856 shares of the financial services provider's stock after buying an additional 928 shares during the quarter. Allstate Corp's holdings in AON were worth $2,736,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AON. Financial Gravity Asset Management Inc. acquired a new position in AON during the first quarter worth about $28,000. HHM Wealth Advisors LLC increased its stake in 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 purchasing an additional 29 shares in the last quarter. Tsfg LLC acquired a new position in AON during the first quarter worth $37,000. Accent Capital Management LLC purchased a new stake in AON during the first quarter worth $40,000. Finally, Garde Capital Inc. acquired a new stake in AON in the first quarter valued at $42,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AON. Keefe, Bruyette & Woods decreased their price objective on shares of AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley reiterated a "cautious" rating on shares of AON in a research report on Monday. Wells Fargo & Company reiterated an "overweight" rating and set a $438.00 target price (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 price target for the company in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald raised AON to a "strong-buy" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $409.18.

AON Price Performance

Shares of NYSE:AON opened at $374.4670 on Friday. The company has a market cap of $80.75 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.22 and a beta of 0.83. The business has a fifty day simple moving average of $359.36 and a 200-day simple moving average of $370.57. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93.

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 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 for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

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

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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