State of New Jersey Common Pension Fund D Has $26.19 Million Stock Position in Aon plc $AON

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Aon plc by 9.2%, owning 65,619 shares worth approximately $26.2 million after selling 6,658 shares.
• Aon reported earnings of $3.49 per share for the quarter, beating estimates of $3.40, with a revenue of $4.16 billion, reflecting a 10.5% year-over-year growth.
• Analysts have raised their price targets for Aon, with Goldman Sachs setting a new target of $408, and Evercore ISI increasing theirs to $421, reflecting strong confidence in the company's performance.

State of New Jersey Common Pension Fund D reduced its stake in shares of Aon plc (NYSE:AON - Free Report) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,619 shares of the financial services provider's stock after selling 6,658 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in AON were worth $26,188,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC boosted its position in AON by 8.2% during the 4th quarter. Jump Financial LLC now owns 2,127 shares of the financial services provider's stock worth $764,000 after acquiring an additional 162 shares during the period. Gabelli Funds LLC acquired a new position in AON during the 4th quarter worth $3,031,000. United Capital Financial Advisors LLC boosted its position in AON by 10.2% during the 4th quarter. United Capital Financial Advisors LLC now owns 5,625 shares of the financial services provider's stock worth $2,020,000 after acquiring an additional 520 shares during the period. NewEdge Advisors LLC boosted its position in AON by 9.8% during the 4th quarter. NewEdge Advisors LLC now owns 12,064 shares of the financial services provider's stock worth $4,333,000 after acquiring an additional 1,075 shares during the period. Finally, Capital International Sarl boosted its position in AON by 8.7% during the 4th quarter. Capital International Sarl now owns 68,140 shares of the financial services provider's stock worth $24,473,000 after acquiring an additional 5,428 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AON shares. The Goldman Sachs Group upgraded AON from a "neutral" rating to a "buy" rating and set a $408.00 price target for the company in a research report on Tuesday, May 13th. Barclays reiterated an "overweight" rating and set a $420.00 price target (up previously from $401.00) on shares of AON in a research report on Thursday, July 31st. Jefferies Financial Group upgraded AON from a "hold" rating to a "buy" rating and upped their price objective for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. Citigroup started coverage on AON in a report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their price objective on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $409.18.

AON Price Performance

Shares of AON stock traded up $0.6460 during trading on Thursday, hitting $374.6460. The stock had a trading volume of 264,559 shares, compared to its average volume of 1,328,094. 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 firm has a market cap of $80.78 billion, a P/E ratio of 31.35, a PEG ratio of 2.21 and a beta of 0.83. The business has a fifty day moving average of $358.54 and a two-hundred day moving average of $370.60. Aon plc has a fifty-two week low of $323.73 and a fifty-two week high of $412.97.

AON (NYSE:AON - Get Free Report) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.09. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.AON's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 earnings per share. On average, sell-side analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.745 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON's payout ratio is 24.96%.

About AON

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.