Clifford Swan Investment Counsel LLC Boosts Stock Position in Aon plc $AON

Key Points

• Clifford Swan Investment Counsel LLC increased its Aon stake by 11.5% in the first quarter, bringing its holdings to 27,076 shares worth about $8.74 million.
• Aon reported better-than-expected Q2 earnings, with EPS of $6.48 versus estimates of $6.37 and revenue of $5.03 billion versus expectations of $4.97 billion.
• The company announced a quarterly dividend of $0.82 per share payable on August 14, and analysts remain broadly positive with a Moderate Buy consensus and average price target of $404.56.

Clifford Swan Investment Counsel LLC lifted its holdings in shares of Aon plc (NYSE:AON - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,076 shares of the financial services provider's stock after buying an additional 2,785 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in AON were worth $8,740,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Watch Advisors INC acquired a new position in AON during the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of AON in the fourth quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new stake in shares of AON during the fourth quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new position in shares of AON during the 4th quarter worth about $30,000. Finally, Strive Asset Management LLC purchased a new position in AON in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Stock Down 0.5%

Shares of NYSE AON opened at $366.69 on Friday. The stock has a market cap of $78.32 billion, a PE ratio of 20.13, a P/E/G ratio of 1.93 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The company has a 50-day moving average of $332.19 and a 200 day moving average of $331.19.

AON (NYSE:AON - Get Free Report) last issued its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.37 by $0.11. The business had revenue of $5.03 billion for the quarter, compared to analysts' expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.67 EPS. As a group, sell-side analysts predict that Aon plc will post 19.09 EPS for the current fiscal year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.82 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. AON's dividend payout ratio (DPR) is presently 18.00%.

Insiders Place Their Bets

In other AON news, General Counsel Darren Zeidel sold 600 shares of the company's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total value of $216,000.00. Following the completion of the sale, the general counsel directly owned 15,354 shares in the company, valued at $5,527,440. This represents a 3.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AON shares. UBS Group lifted their price objective on AON from $360.00 to $383.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Cantor Fitzgerald raised their target price on AON from $416.00 to $445.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on AON from $396.00 to $412.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Wells Fargo & Company dropped their price target on AON from $409.00 to $406.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Finally, Piper Sandler downgraded AON from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $355.00 to $377.00 in a research note on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $404.56.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

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