Empirical Asset Management LLC Acquires Shares of 2,200 Aon plc $AON

Key Points

• Empirical Asset Management LLC acquired 2,200 shares of Aon plc valued at approximately $785,000 during the second quarter.
• Aon plc reported an earnings per share (EPS) of $3.49 for the last quarter, surpassing analyst expectations, and experienced a 10.5% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.745, representing an annualized dividend yield of 0.9%.

Empirical Asset Management LLC bought a new stake in shares of Aon plc (NYSE:AON - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,200 shares of the financial services provider's stock, valued at approximately $785,000.

Several other hedge funds also recently modified their holdings of AON. Vanguard Group Inc. boosted its position in AON by 1.3% in the first quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider's stock worth $7,893,382,000 after purchasing an additional 258,699 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of AON by 18.3% in the first 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. Polen Capital Management LLC raised its stake in shares of AON by 318.1% during 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 shares of 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 valued at $954,053,000 after purchasing an additional 61,350 shares during the period. Finally, Northern Trust Corp raised its stake in shares of AON by 6.1% during the 1st quarter. Northern Trust Corp now owns 2,290,619 shares of the financial services provider's stock valued at $914,163,000 after purchasing an additional 131,676 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Stock Down 3.6%

Shares of NYSE:AON opened at $343.09 on Friday. The stock has a market capitalization of $73.98 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 2.09 and a beta of 0.89. The stock has a fifty day simple moving average of $363.65 and a two-hundred day simple moving average of $361.80. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. 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 posted its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.09. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The company's quarterly revenue 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, research analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON's payout ratio is presently 24.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Cantor Fitzgerald upgraded AON to a "strong-buy" rating in a research note on Wednesday, August 13th. Morgan Stanley upgraded AON from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $385.00 to $430.00 in a report on Thursday, September 11th. Piper Sandler upped their price objective on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Wolfe Research began coverage on AON in a report on Monday, September 15th. They set a "peer perform" rating for the company. Finally, Jefferies Financial Group upgraded AON from a "hold" rating to a "buy" rating and increased their target price for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $420.00.

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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