Aon plc $AON Stock Position Raised by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its stake in Aon plc by 2.0%, owning 83,379 shares worth approximately $33.3 million as of the latest SEC filing.
• Aon reported a strong quarterly earnings performance of $3.49 EPS, exceeding estimates, with a revenue of $4.16 billion, marking a 10.5% year-over-year increase.
• The company declared a quarterly dividend of $0.745 per share, with a current dividend yield of 0.8% and a payout ratio of 24.96%.

Advisors Capital Management LLC lifted its stake in shares of Aon plc (NYSE:AON - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,379 shares of the financial services provider's stock after purchasing an additional 1,614 shares during the quarter. Advisors Capital Management LLC's holdings in AON were worth $33,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of AON during the 1st quarter worth approximately $28,000. Saudi Central Bank acquired a new stake in AON in the 1st quarter valued at approximately $31,000. HHM Wealth Advisors LLC increased its position 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 acquiring an additional 29 shares during the period. Tsfg LLC acquired a new stake in shares of AON in the 1st quarter worth approximately $37,000. Finally, Accent Capital Management LLC acquired a new stake in shares of AON in the 1st quarter worth approximately $40,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Trading Down 1.2%

AON stock opened at $362.14 on Thursday. Aon plc has a 12 month low of $323.73 and a 12 month 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. The stock has a market cap of $78.09 billion, a P/E ratio of 30.33, a P/E/G ratio of 2.17 and a beta of 0.87. The company's fifty day simple moving average is $363.21 and its 200-day simple moving average is $368.87.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $4.16 billion. During the same period last year, the company earned $2.93 earnings per share. AON's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Aon plc will post 17.21 EPS for the current fiscal 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 given a dividend of $0.745 per share. 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 (DPR) is presently 24.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AON shares. Wells Fargo & Company reiterated an "overweight" rating and set a $438.00 price target (up from $436.00) on shares of AON in a research report on Thursday, July 10th. Citigroup started coverage on AON in a research report on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price target on the stock. Piper Sandler lifted their price target on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Cantor Fitzgerald raised AON to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley reissued a "cautious" rating on shares of AON in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, AON currently has a consensus rating of "Moderate Buy" and an average target price of $412.69.

AON 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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