Aon plc $AON Stock Position Lessened by Norden Group LLC

Key Points

• Norden Group LLC reduced its stake in Aon plc by 11.8%, owning 5,707 shares valued at $2,036,000 after selling 767 shares in the second quarter.
• Several brokerages have raised their ratings and target prices for Aon, with Jefferies Financial Group upgrading it to a "buy" and setting a target price of $426.00.
• Aon announced a quarterly dividend of $0.745, representing an annualized dividend of $2.98 with a yield of 0.8%.

Norden Group LLC decreased its holdings in Aon plc (NYSE:AON - Free Report) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,707 shares of the financial services provider's stock after selling 767 shares during the quarter. Norden Group LLC's holdings in AON were worth $2,036,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of AON. Vise Technologies Inc. grew its stake in shares of AON by 26.9% in the fourth quarter. Vise Technologies Inc. now owns 992 shares of the financial services provider's stock worth $356,000 after purchasing an additional 210 shares in the last quarter. GTS Securities LLC grew its stake in shares of AON by 25.8% in the fourth quarter. GTS Securities LLC now owns 1,592 shares of the financial services provider's stock worth $572,000 after purchasing an additional 327 shares in the last quarter. Forum Financial Management LP grew its stake in shares of AON by 4.4% in the fourth quarter. Forum Financial Management LP now owns 950 shares of the financial services provider's stock worth $341,000 after purchasing an additional 40 shares in the last quarter. Ameriflex Group Inc. bought a new position in AON during the fourth quarter valued at about $93,000. Finally, Armis Advisers LLC bought a new position in AON during the fourth quarter valued at about $235,000. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AON. Jefferies Financial Group raised 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. Barclays reaffirmed an "overweight" rating and set a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Piper Sandler raised their target price on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Evercore ISI raised their target price on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $438.00 target price (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AON presently has an average rating of "Moderate Buy" and an average target price of $414.69.

AON Trading Down 0.1%

Shares of NYSE AON opened at $353.07 on Wednesday. Aon plc has a 12 month low of $323.73 and a 12 month high of $412.97. The company has a market cap of $76.13 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 2.09 and a beta of 0.87. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. The business has a fifty day simple moving average of $363.81 and a 200-day simple moving average of $365.93.

AON (NYSE:AON - Get Free Report) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating 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 business had revenue of $4.16 billion during 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. AON's revenue was up 10.5% compared to the same quarter last year. Sell-side analysts predict that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

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