Cullen Frost Bankers Inc. Raises Holdings in Aon plc $AON

Key Points

• Cullen Frost Bankers Inc. increased its investment in Aon plc by 2.1% during Q2, holding 47,966 shares valued at approximately $17.1 million.
• Aon reported earnings of $3.49 per share, surpassing analysts' expectations, with a revenue of $4.16 billion for the quarter, reflecting a year-over-year increase of 10.5%.
• The company announced a quarterly dividend of $0.745, with an upcoming payout date of November 14, representing an annualized yield of 0.9%.

Cullen Frost Bankers Inc. lifted its stake in Aon plc (NYSE:AON - Free Report) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,966 shares of the financial services provider's stock after buying an additional 965 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in AON were worth $17,112,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AON. GAMMA Investing LLC boosted its stake in shares of AON by 41.7% in the first quarter. GAMMA Investing LLC now owns 1,909 shares of the financial services provider's stock worth $762,000 after buying an additional 562 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of AON by 121.6% in the first quarter. Exchange Traded Concepts LLC now owns 277 shares of the financial services provider's stock worth $111,000 after buying an additional 152 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of AON in the first quarter worth about $215,000. Flagship Harbor Advisors LLC purchased a new stake in shares of AON in the first quarter worth about $239,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of AON by 15.3% in the first quarter. Oppenheimer & Co. Inc. now owns 2,786 shares of the financial services provider's stock worth $1,112,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Stock Performance

NYSE AON opened at $343.36 on Wednesday. The company has a market cap of $74.04 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.02 and a beta of 0.89. The stock's 50 day simple moving average is $362.37 and its 200-day simple moving average is $360.63. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. 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, beating the consensus estimate of $3.40 by $0.09. The business had revenue of $4.16 billion for 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%.The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 earnings per share. As a group, equities research analysts anticipate that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 3rd. AON's dividend payout ratio (DPR) is currently 24.96%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AON shares. Cantor Fitzgerald upgraded AON to a "strong-buy" rating in a research report on Wednesday, August 13th. Evercore ISI increased their price target on AON from $421.00 to $427.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Citigroup started coverage on AON in a research report on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price target on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of AON in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price target on AON from $436.00 to $433.00 and set an "overweight" rating on the stock in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, AON presently has an average rating of "Moderate Buy" and an average target price of $420.00.

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.

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