Aon plc (NYSE:AON) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Aon plc by 2.6%, acquiring an additional 61,350 shares, bringing its total ownership to approximately 2,390,571 shares valued at $954 million.
• Several institutional investors, including Vanguard Group and Bank of New York Mellon Corp, have also boosted their stakes in Aon, with Vanguard now owning 19.78 million shares worth nearly $7.89 billion.
• Aon recently announced a quarterly dividend of $0.745 per share, with dividends to be paid on August 15th, representing an annual yield of 0.8%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Aon plc (NYSE:AON - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,390,571 shares of the financial services provider's stock after buying an additional 61,350 shares during the period. AON comprises about 0.9% of Mitsubishi UFJ Asset Management Co. Ltd.'s portfolio, making the stock its 18th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 1.11% of AON worth $954,053,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of AON in the first quarter valued at approximately $28,000. HHM Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 29 shares during the period. Tsfg LLC purchased a new stake in shares of AON in the 1st quarter valued at $37,000. Accent Capital Management LLC purchased a new stake in shares of AON in the 1st quarter valued at $40,000. Finally, Garde Capital Inc. acquired a new position in AON during the 1st quarter worth $42,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Price Performance

NYSE AON traded up $1.36 during mid-day trading on Friday, hitting $366.39. The stock had a trading volume of 1,095,233 shares, compared to its average volume of 1,402,192. The company has a 50 day simple moving average of $357.97 and a 200 day simple moving average of $370.66. The company has a market cap of $79.00 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 2.16 and a beta of 0.83. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 52-week low of $323.73 and a 52-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 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%. The firm had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. AON's quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts forecast that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 1st. AON's dividend payout ratio (DPR) is 24.96%.

Analyst Upgrades and Downgrades

AON has been the subject of several analyst reports. Evercore ISI boosted their target price on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 target price for the company in a research report on Tuesday, May 13th. Barclays reissued an "overweight" rating and issued a $420.00 target price (up from $401.00) on shares of AON in a research report on Thursday, July 31st. Piper Sandler upped their price objective on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and increased their target price for the stock from $400.00 to $426.00 in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $409.21.

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.