Integrated Wealth Concepts LLC Boosts Stake in Aon plc $AON

Key Points

• Integrated Wealth Concepts LLC raised its stock holdings in Aon plc by 44.5%, now owning 7,848 shares valued at approximately $3.13 million as of the end of Q1 2023.
• Several hedge funds significantly increased their positions in Aon, with Portside Wealth Group LLC raising their stake by 530.6%, acquiring an additional 9,302 shares.
• Aon received favorable analyst ratings, with Jefferies Financial Group upgrading the stock from "hold" to "buy" and setting a new target price of $426.

Integrated Wealth Concepts LLC boosted its stake in shares of Aon plc (NYSE:AON - Free Report) by 44.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,848 shares of the financial services provider's stock after buying an additional 2,418 shares during the quarter. Integrated Wealth Concepts LLC's holdings in AON were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of AON in the 1st quarter worth approximately $28,000. Saudi Central Bank purchased a new stake in AON during the first quarter worth $31,000. HHM Wealth Advisors LLC grew 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 during the last quarter. Tsfg LLC acquired a new position in shares of AON during the 1st quarter worth $37,000. Finally, Accent Capital Management LLC purchased a new stake in shares of AON in the 1st quarter worth about $40,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AON shares. Morgan Stanley raised shares of AON from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $385.00 to $430.00 in a report on Thursday. Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and raised their price target for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Citigroup assumed coverage on AON in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 price objective on the stock. Piper Sandler lifted their price objective on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Evercore ISI upped their target price on shares of AON from $411.00 to $421.00 and gave the company an "outperform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $415.50.

AON Trading Up 0.3%

Shares of NYSE:AON traded up $0.96 during midday trading on Friday, reaching $373.21. The company's stock had a trading volume of 365,394 shares, compared to its average volume of 1,304,527. The firm has a market cap of $80.47 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 2.15 and a beta of 0.87. The business has a 50 day moving average price of $363.54 and a 200 day moving average price of $368.73. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93.

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, 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 firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.745 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.8%. AON's dividend payout ratio is 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.