Mirae Asset Global Investments Co. Ltd. Acquires 2,489 Shares of Aon plc $AON

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Aon plc by 9.8%, acquiring an additional 2,489 shares, bringing its total holdings to 27,943 shares valued at approximately $9.97 million.
• A number of analysts have recently issued positive ratings for Aon, with Barclays raising its price target to $420.00 and Cantor Fitzgerald upgrading to a "strong-buy" rating.
• Aon reported strong quarterly earnings, achieving an EPS of $3.49 which surpassed estimates, alongside a revenue growth of 10.5% year-over-year.

Mirae Asset Global Investments Co. Ltd. raised its stake in Aon plc (NYSE:AON - Free Report) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,943 shares of the financial services provider's stock after buying an additional 2,489 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in AON were worth $9,969,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AON. Portside Wealth Group LLC increased its holdings in AON by 530.6% during the 1st quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider's stock worth $4,412,000 after purchasing an additional 9,302 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of AON by 0.3% during the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider's stock worth $809,544,000 after buying an additional 6,038 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in AON by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider's stock valued at $11,183,000 after buying an additional 1,489 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in AON by 425.3% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider's stock valued at $761,000 after acquiring an additional 1,544 shares in the last quarter. Finally, Ninety One North America Inc. boosted its position in AON by 64.4% during the 1st quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider's stock worth $2,986,000 after acquiring an additional 2,932 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AON shares. Barclays reissued an "overweight" rating and issued a $420.00 price objective (up previously from $401.00) on shares of AON in a research report on Thursday, July 31st. Cantor Fitzgerald upgraded shares of AON to a "strong-buy" rating in a research note on Wednesday, August 13th. Citigroup initiated coverage on AON in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 target price on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of AON in a research report on Saturday, September 27th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $438.00 price target (up previously from $436.00) on shares of AON in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AON has an average rating of "Moderate Buy" and a consensus target price of $415.06.

AON Trading Up 0.9%

Shares of NYSE:AON opened at $364.06 on Monday. Aon plc has a 52-week low of $323.73 and a 52-week high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $78.50 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 2.16 and a beta of 0.89. The company has a 50-day simple moving average of $363.77 and a 200 day simple moving average of $363.61.

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

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a $0.745 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. AON's dividend payout ratio is presently 24.96%.

About AON

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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