Aon plc $AON Stock Position Raised by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC increased its stake in Aon plc by 1.5%, owning approximately 0.11% of the company, valued at $96.87 million.
• Aon recently reported a quarterly EPS of $3.49, exceeding analysts' expectations, with revenue showing a year-over-year increase of 10.5%.
• The company declared a quarterly dividend of $0.745 per share, representing an annual yield of 0.8% and a dividend payout ratio of 24.96%.

Lord Abbett & CO. LLC raised its position in shares of Aon plc (NYSE:AON - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,715 shares of the financial services provider's stock after buying an additional 3,564 shares during the quarter. Lord Abbett & CO. LLC owned about 0.11% of AON worth $96,865,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of AON by 13.6% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 63,285 shares of the financial services provider's stock valued at $25,256,000 after acquiring an additional 7,600 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of AON by 0.6% during the first quarter. Neuberger Berman Group LLC now owns 2,136,107 shares of the financial services provider's stock worth $852,453,000 after purchasing an additional 12,245 shares during the period. Boston Partners boosted its holdings in shares of AON by 4.2% in the 1st quarter. Boston Partners now owns 2,121,607 shares of the financial services provider's stock valued at $844,533,000 after buying an additional 85,609 shares during the period. E Fund Management Co. Ltd. bought a new stake in shares of AON during the 1st quarter valued at about $218,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in AON during the first quarter worth about $314,000. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Price Performance

Shares of AON stock traded up $4.7790 on Tuesday, hitting $370.1490. The company had a trading volume of 256,368 shares, compared to its average volume of 1,330,777. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. The company has a market cap of $79.82 billion, a PE ratio of 30.99, a PEG ratio of 2.17 and a beta of 0.83. The business has a 50-day simple moving average of $357.64 and a 200-day simple moving average of $370.56. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52.

AON (NYSE:AON - Get Free Report) last released its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts expect that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AON. The Goldman Sachs Group upgraded 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. Keefe, Bruyette & Woods dropped their target price on AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley reissued a "cautious" rating on shares of AON in a report on Monday. Jefferies Financial Group raised shares of AON from a "hold" rating to a "buy" rating and increased their price objective for the stock from $400.00 to $426.00 in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald raised shares of AON to a "strong-buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $409.18.

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.