Bowen Hanes & Co. Inc. Purchases Shares of 1,035 Aon plc $AON

Key Points

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Bowen Hanes & Co. Inc. purchased a new stake in shares of Aon plc (NYSE:AON - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,035 shares of the financial services provider's stock, valued at approximately $413,000.

Several other institutional investors have also added to or reduced their stakes in the company. 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 last quarter. Nuveen LLC bought a new stake in shares of AON in the 1st quarter valued at approximately $505,108,000. Wellington Management Group LLP bought a new stake in shares of AON in the 1st quarter valued at approximately $490,634,000. GAMMA Investing LLC lifted its stake in shares of AON by 56,460.0% in the 1st quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock valued at $304,052,000 after purchasing an additional 760,516 shares during the last quarter. Finally, 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 last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AON. Cantor Fitzgerald raised AON to a "strong-buy" rating in a research note on Wednesday, August 13th. Wells Fargo & Company reissued an "overweight" rating and set a $438.00 price target (up from $436.00) on shares of AON in a research note on Thursday, July 10th. Citigroup assumed coverage on AON in a research note on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price target for the company. Evercore ISI raised their price target on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Keefe, Bruyette & Woods decreased their price target on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $409.18.

AON Trading Down 0.3%

Shares of NYSE:AON opened at $365.96 on Tuesday. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The business's fifty day simple moving average is $357.64 and its 200-day simple moving average is $370.56. The company has a market capitalization of $78.91 billion, a PE ratio of 30.65, a P/E/G ratio of 2.17 and a beta of 0.83. 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 (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, 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 business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the business posted $2.93 EPS. The business's revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.745 dividend. The ex-dividend date was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON's dividend payout ratio (DPR) is currently 24.96%.

About AON

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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