Aon plc $AON Stock Holdings Raised by Korea Investment CORP

Key Points

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Korea Investment CORP boosted its holdings in Aon plc (NYSE:AON - Free Report) by 16.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,475 shares of the financial services provider's stock after purchasing an additional 18,274 shares during the quarter. Korea Investment CORP owned approximately 0.06% of AON worth $51,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AON. Polen Capital Management LLC increased its stake in AON by 318.1% in the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock valued at $1,200,350,000 after purchasing an additional 2,288,397 shares during the last quarter. Nuveen LLC acquired a new position in shares of AON in the 1st quarter valued at $505,108,000. GAMMA Investing LLC boosted its holdings in shares of AON by 56,460.0% in the 1st quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock valued at $304,052,000 after purchasing an additional 760,516 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AON by 18.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock valued at $1,210,864,000 after purchasing an additional 469,238 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AON by 205.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 493,694 shares of the financial services provider's stock valued at $197,028,000 after purchasing an additional 331,888 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company reiterated 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. Cantor Fitzgerald upgraded shares of AON to a "strong-buy" rating in a report on Wednesday, August 13th. Morgan Stanley reissued a "cautious" rating on shares of AON in a research note on Monday. Citigroup began coverage on shares of AON in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 target price on the stock. Finally, Jefferies Financial Group raised shares of AON from a "hold" rating to a "buy" rating and raised their target price for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $409.18.

AON Stock Down 0.2%

AON stock traded down $0.8030 during midday trading on Friday, hitting $374.4670. 1,190,563 shares of the stock were exchanged, compared to its average volume of 1,472,991. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97. The firm 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 company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The company has a 50 day moving average price of $359.36 and a two-hundred day moving average price of $370.57.

AON (NYSE:AON - Get Free Report) last released its quarterly 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 net margin of 15.54% and a return on equity of 50.91%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the previous year, the firm posted $2.93 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid 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 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.