Aon plc $AON Shares Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Aon by 9.7% in the fourth quarter, buying 16,890 more shares and bringing its total to 190,679 shares valued at about $67.7 million.
• Aon reported solid quarterly results, with earnings of $6.48 per share beating estimates and revenue of $5.03 billion also topping expectations. Revenue rose 6.4% year over year.
• The company raised its dividend to $0.82 per quarter from $0.74, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $394.94.

Hsbc Holdings PLC lifted its stake in Aon plc (NYSE:AON - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,679 shares of the financial services provider's stock after acquiring an additional 16,890 shares during the period. Hsbc Holdings PLC owned 0.09% of AON worth $67,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AON. Sound View Wealth Advisors Group LLC lifted its position in AON by 1.5% in the fourth 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 during the period. Kathmere Capital Management LLC increased its position 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 valued at $558,000 after purchasing an additional 32 shares during the period. City National Bank of Florida MSD raised its stake in shares of AON by 3.8% in the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider's stock worth $306,000 after buying an additional 32 shares in the last quarter. Westpac Banking Corp raised its stake in shares of AON by 5.6% in the 3rd quarter. Westpac Banking Corp now owns 620 shares of the financial services provider's stock worth $221,000 after buying an additional 33 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in shares of AON by 1.8% in the fourth quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider's stock valued at $664,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Trading Down 1.0%

Shares of NYSE AON opened at $314.58 on Tuesday. 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 plc has a 12 month low of $304.59 and a 12 month high of $381.00. The company has a market cap of $67.19 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.67 and a beta of 0.71. The business has a fifty day simple moving average of $322.49 and a 200-day simple moving average of $331.41.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts' consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion for the quarter, compared to analysts' expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.AON's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $5.67 EPS. Sell-side analysts predict that Aon plc will post 19.09 EPS for the current year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. This is an increase from AON's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, May 1st. AON's payout ratio is 18.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on AON shares. Wells Fargo & Company lowered their target price on AON from $443.00 to $402.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Mizuho reduced their price objective on shares of AON from $394.00 to $389.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Morgan Stanley lowered their price objective on shares of AON from $380.00 to $370.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. Weiss Ratings reissued a "hold (c)" rating on shares of AON in a research note on Tuesday, April 21st. Finally, Piper Sandler reduced their target price on shares of AON from $360.00 to $355.00 and set an "overweight" rating for the company in a report on Monday, June 15th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $394.94.

AON Profile

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.

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