Nuveen LLC Invests $505.11 Million in Aon plc (NYSE:AON)

Key Points

• Nuveen LLC has invested approximately $505.11 million in Aon plc, acquiring 1,265,651 shares, which represents a 0.59% stake in the company as of the latest SEC disclosure.
• Aon plc reported earnings of $3.49 EPS for the last quarter, surpassing analyst estimates, and has announced a quarterly dividend of $0.745 to be paid to shareholders.
• Analysts have generally favorable views on Aon, with a consensus rating of "Moderate Buy" and an average target price of about $409.21, with some analysts raising their price targets recently.

Nuveen LLC bought a new position in shares of Aon plc (NYSE:AON - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,265,651 shares of the financial services provider's stock, valued at approximately $505,108,000. Nuveen LLC owned about 0.59% of AON at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Portside Wealth Group LLC increased its holdings in shares of 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 during the period. WCM Investment Management LLC raised its stake in shares of AON by 0.3% in the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider's stock valued at $809,544,000 after purchasing an additional 6,038 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings 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 period. Catalyst Capital Advisors LLC lifted its holdings in shares of AON by 425.3% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider's stock worth $761,000 after acquiring an additional 1,544 shares during the period. Finally, Ninety One North America Inc. boosted its position in shares of 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 valued at $2,986,000 after acquiring an additional 2,932 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AON has been the topic of a number of analyst reports. Piper Sandler upped their price target on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods cut their price target on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company reissued an "overweight" rating and issued a $438.00 price target (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. Cantor Fitzgerald raised AON to a "strong-buy" rating in a report on Wednesday. Finally, Evercore ISI boosted their target price on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $410.69.

AON Stock Down 1.1%

AON traded down $4.20 during trading on Thursday, hitting $366.72. 1,227,293 shares of the company's stock traded hands, compared to its average volume of 1,338,512. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The company's 50 day simple moving average is $357.55 and its two-hundred day simple moving average is $370.68. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $79.07 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.15 and a beta of 0.83.

AON (NYSE:AON - Get Free Report) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.09. The business had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The firm's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 earnings per share. Analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The business 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 dividend of $0.745 per share. The ex-dividend date is Friday, August 1st. This represents a $2.98 dividend on an annualized basis 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.