Aon plc $AON Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Aon stake by 0.5% in the fourth quarter, ending with 5.14 million shares valued at about $1.81 billion. Institutional ownership in Aon remains high at 86.14%.
• Aon reported strong quarterly results, with earnings of $6.48 per share and revenue of $5.03 billion, both ahead of analyst expectations. Revenue rose 6.4% year over year.
• The company also raised its quarterly dividend to $0.82 per share from $0.75, while analysts currently rate the stock a Moderate Buy with an average price target of $396.81.

Geode Capital Management LLC lifted its holdings in shares of Aon plc (NYSE:AON - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,141,363 shares of the financial services provider's stock after purchasing an additional 28,066 shares during the period. Geode Capital Management LLC owned about 2.39% of AON worth $1,810,726,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Sound View Wealth Advisors Group LLC increased its stake in shares of AON by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider's stock worth $683,000 after purchasing an additional 29 shares in the last quarter. Kathmere Capital Management LLC increased its stake in shares of AON by 2.1% during the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider's stock worth $558,000 after purchasing an additional 32 shares in the last quarter. Westpac Banking Corp increased its stake in shares of AON by 5.6% during the 3rd quarter. Westpac Banking Corp now owns 620 shares of the financial services provider's stock worth $221,000 after purchasing an additional 33 shares in the last quarter. Capital Investment Advisors LLC increased its stake in shares of AON by 1.8% during the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider's stock worth $664,000 after purchasing an additional 33 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its stake in shares of AON by 39.3% during the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider's stock worth $41,000 after purchasing an additional 33 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Down 0.1%

Shares of AON opened at $318.36 on Friday. The firm has a market cap of $67.99 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The company's fifty day moving average is $321.76 and its two-hundred day moving average is $334.28. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating analysts' consensus estimates of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the business earned $5.67 EPS. AON's revenue for the quarter was up 6.4% on a year-over-year basis. Analysts forecast that Aon plc will post 19.1 earnings per share for the current year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.82 per share. This is a positive change from AON's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. AON's dividend payout ratio is currently 16.36%.

Analyst Upgrades and Downgrades

AON has been the subject of a number of recent research reports. Citigroup raised their price objective on shares of AON from $412.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday. Barclays dropped their price objective on shares of AON from $381.00 to $372.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Wells Fargo & Company lowered their target price on shares of AON from $443.00 to $402.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. UBS Group reaffirmed a "neutral" rating and issued a $385.00 target price on shares of AON in a research note on Monday, February 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $408.00 target price on shares of AON in a research note on Monday, February 2nd. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, AON presently has a consensus rating of "Moderate Buy" and an average price target of $396.81.

About AON

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

Want to see what other hedge funds are holding AON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aon plc (NYSE:AON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.