Arizona State Retirement System Boosts Stake in Aon plc (NYSE:AON)

Arizona State Retirement System lifted its stake in Aon plc (NYSE:AON - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,121 shares of the financial services provider's stock after buying an additional 854 shares during the quarter. Arizona State Retirement System's holdings in AON were worth $22,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AON. Financial Gravity Asset Management Inc. purchased a new position in shares of AON in the first quarter worth $28,000. Millstone Evans Group LLC purchased a new position in shares of AON in the fourth quarter worth $32,000. Tsfg LLC purchased a new position in shares of AON in the first quarter worth $37,000. Garde Capital Inc. purchased a new position in shares of AON in the first quarter worth $42,000. Finally, Nemes Rush Group LLC bought a new stake in AON in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Trading Down 0.9%

Shares of NYSE AON traded down $3.15 during mid-day trading on Friday, reaching $355.85. The company had a trading volume of 857,263 shares, compared to its average volume of 1,164,048. The business's 50-day moving average is $358.19 and its 200-day moving average is $370.67. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.26. The stock has a market cap of $76.84 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.12 and a beta of 0.84. Aon plc has a 52 week low of $295.79 and a 52 week high of $412.97.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing analysts' consensus estimates of $6.04 by ($0.37). AON had a return on equity of 52.71% and a net margin of 15.58%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the company posted $5.66 earnings per share. The company's revenue for the quarter was up 16.2% on a year-over-year basis. Equities analysts expect that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.84%. AON's dividend payout ratio is presently 25.38%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler upgraded shares of AON from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $384.00 to $378.00 in a research report on Monday, April 28th. JPMorgan Chase & Co. boosted their price target on shares of AON from $394.00 to $409.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Evercore ISI reduced their price target on shares of AON from $420.00 to $398.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group boosted their price target on shares of AON from $396.00 to $416.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Finally, The Goldman Sachs Group upgraded shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 price target on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $403.00.

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.