Nordea Investment Management AB Raises Stake in Aon plc $AON

Key Points

• Nordea Investment Management AB increased its stake in Aon plc by 6.6%, owning 17,062 shares valued at approximately $6.05 million after acquiring 1,061 additional shares in the 2nd quarter.
• Aon reported a quarterly EPS of $3.49, surpassing analyst estimates, with revenues reaching $4.16 billion, a 10.5% increase from the previous year.
• The company declared a quarterly dividend of $0.745, representing a yield of 0.9%, with a payout ratio of 24.96%.

Nordea Investment Management AB raised its stake in Aon plc (NYSE:AON - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,062 shares of the financial services provider's stock after buying an additional 1,061 shares during the quarter. Nordea Investment Management AB's holdings in AON were worth $6,051,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Polen Capital Management LLC grew its holdings 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 worth $1,200,350,000 after purchasing an additional 2,288,397 shares during the period. Nuveen LLC purchased a new position in shares of AON during the 1st quarter worth $505,108,000. Wellington Management Group LLP purchased a new position in shares of AON during the 1st quarter worth $490,634,000. Bank of New York Mellon Corp grew its holdings in shares of AON by 18.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock worth $1,210,864,000 after purchasing an additional 469,238 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in shares of AON by 276.0% during the 2nd quarter. Vontobel Holding Ltd. now owns 460,971 shares of the financial services provider's stock worth $164,456,000 after purchasing an additional 338,373 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Price Performance

AON stock opened at $344.30 on Tuesday. 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 firm has a market capitalization of $74.24 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.04 and a beta of 0.89. The business's 50-day moving average is $362.79 and its two-hundred day moving average is $360.75. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.09. The company had revenue of $4.16 billion for 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%.AON's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.93 EPS. Analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on AON from $436.00 to $433.00 and set an "overweight" rating for the company in a report on Thursday, October 9th. Wolfe Research started coverage on AON in a research note on Monday, September 15th. They set a "peer perform" rating on the stock. Evercore ISI increased their target price on AON from $421.00 to $427.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of AON in a research note on Wednesday, October 8th. Finally, Citigroup started coverage on AON in a research note on Wednesday, August 13th. They set a "neutral" rating and a $402.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.

Want to see what other hedge funds are holding AON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aon plc (NYSE:AON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.