AR Asset Management Inc. Buys New Holdings in Aon plc $AON

Key Points

• AR Asset Management Inc. has invested approximately $4.64 million in Aon plc by acquiring 11,618 shares of the financial services provider's stock.
• Analysts have recently raised their price targets for Aon, with Goldman Sachs setting a target price of $408.00 and Wells Fargo increase to $438.00, highlighting a generally positive outlook for the stock.
• Aon recently reported earnings of $3.49 per share, surpassing expectations, and declared a quarterly dividend of $0.745 per share, with an annualized yield of 0.8%.

AR Asset Management Inc. acquired a new position in shares of Aon plc (NYSE:AON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,618 shares of the financial services provider's stock, valued at approximately $4,637,000.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of AON by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider's stock valued at $7,893,382,000 after purchasing an additional 258,699 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of AON by 18.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock valued at $1,210,864,000 after purchasing an additional 469,238 shares during the period. Polen Capital Management LLC lifted its stake in shares of AON by 318.1% in the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock valued at $1,200,350,000 after purchasing an additional 2,288,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in AON by 2.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider's stock worth $954,053,000 after buying an additional 61,350 shares during the period. Finally, Northern Trust Corp raised its stake in AON by 9.3% during the 4th quarter. Northern Trust Corp now owns 2,158,943 shares of the financial services provider's stock worth $775,406,000 after buying an additional 183,442 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on AON shares. Barclays reaffirmed an "overweight" rating and set a $420.00 price objective (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Citigroup started coverage on AON in a research note on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price objective on the stock. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 price objective on the stock in a research note on Tuesday, May 13th. Piper Sandler raised their price objective on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $438.00 price objective (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $409.18.

AON Stock Up 0.2%

Shares of NYSE AON traded up $0.9310 during mid-day trading on Wednesday, hitting $373.7910. The company had a trading volume of 678,643 shares, compared to its average volume of 1,331,655. The company has a market capitalization of $80.60 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83. The firm has a 50-day simple moving average of $358.06 and a two-hundred day simple moving average of $370.58. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a one year low of $323.73 and a one year high of $412.97.

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 for the quarter, beating the consensus estimate of $3.40 by $0.09. The company had revenue of $4.16 billion during the quarter, compared to analysts' expectations 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 quarter last year, the company earned $2.93 EPS. On average, equities analysts expect that Aon plc will post 17.21 EPS for the current 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 paid a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, August 1st. AON's dividend payout ratio (DPR) is 24.96%.

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.