Asset Management One Co. Ltd. Boosts Stake in Aon plc $AON

Key Points

• Asset Management One Co. Ltd. increased its stake in Aon plc by 3.4% during Q2, owning 89,950 shares valued at approximately $32 million.
• Several institutional investors significantly boosted their holdings in Aon, with Polen Capital Management's holding increasing by 318.1% in Q1, now owning over 3 million shares.
• Aon announced a quarterly dividend of $0.745 per share, representing an annual yield of 0.9%, to be paid on November 14th.

Asset Management One Co. Ltd. raised its holdings in Aon plc (NYSE:AON - Free Report) by 3.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,950 shares of the financial services provider's stock after purchasing an additional 2,992 shares during the quarter. Asset Management One Co. Ltd.'s holdings in AON were worth $32,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AON. Polen Capital Management LLC raised its holdings 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 buying an additional 2,288,397 shares during the period. Nuveen LLC purchased a new stake in shares of AON in the 1st quarter valued at $505,108,000. Wellington Management Group LLP purchased a new stake in shares of AON in the 1st quarter valued at $490,634,000. Bank of New York Mellon Corp raised its holdings 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 buying an additional 469,238 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in shares of AON by 276.0% in the 2nd quarter. Vontobel Holding Ltd. now owns 460,971 shares of the financial services provider's stock valued at $164,456,000 after buying an additional 338,373 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

AON has been the topic of several research analyst reports. Citigroup assumed coverage on AON in a report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 price objective on the stock. Evercore ISI boosted their target price on AON from $421.00 to $427.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. Morgan Stanley raised AON from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $385.00 to $430.00 in a research note on Thursday, September 11th. Barclays reissued an "overweight" rating and set a $420.00 target price (up from $401.00) on shares of AON in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald raised AON to a "strong-buy" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $420.00.

AON Stock Down 1.1%

Shares of NYSE AON opened at $337.58 on Friday. The company has a market capitalization of $72.79 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 2.01 and a beta of 0.89. 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 business has a 50-day moving average of $360.70 and a two-hundred day moving average of $360.19. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97.

AON (NYSE:AON - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.93 EPS. On average, analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 3rd. AON's payout ratio is 24.96%.

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.

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