iA Global Asset Management Inc. Invests $828,000 in Aon plc (NYSE:AON)

Key Points

• iA Global Asset Management Inc. has invested approximately $828,000 in Aon plc by acquiring 2,074 shares during the first quarter.
• Aon plc reported a quarterly earnings per share (EPS) of $3.49, surpassing analysts' estimates, with a revenue of $4.16 billion for the quarter, marking a 10.5% increase year-over-year.
• Wall Street analysts have mixed ratings for Aon, with most giving it a rating of "Moderate Buy" and an average price target of $409.21.

iA Global Asset Management Inc. acquired a new position in shares of Aon plc (NYSE:AON - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,074 shares of the financial services provider's stock, valued at approximately $828,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new position in AON in the first quarter valued at approximately $28,000. HHM Wealth Advisors LLC boosted its holdings in AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 29 shares in the last quarter. Tsfg LLC acquired a new position in AON in the first quarter valued at approximately $37,000. Accent Capital Management LLC acquired a new position in AON in the first quarter valued at approximately $40,000. Finally, Garde Capital Inc. acquired a new position in AON in the first quarter valued at approximately $42,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AON has been the subject of a number of research analyst reports. Evercore ISI upped their price target on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $438.00 price target (up from $436.00) on shares of AON in a report on Thursday, July 10th. Barclays reissued an "overweight" rating and issued a $420.00 price objective (up from $401.00) on shares of AON in a report on Thursday, July 31st. Keefe, Bruyette & Woods decreased their price objective on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and increased their price objective for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, AON presently has an average rating of "Moderate Buy" and an average price target of $409.21.

AON Price Performance

AON stock opened at $363.73 on Thursday. Aon plc has a 12 month low of $323.73 and a 12 month 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. The business has a 50 day simple moving average of $358.13 and a 200-day simple moving average of $370.68. The stock has a market capitalization of $78.43 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.83.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. The company's quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.745 dividend. The ex-dividend date is Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.8%. AON's dividend payout ratio is presently 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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