Oppenheimer Asset Management Inc. Acquires 38,098 Shares of Aon plc (NYSE:AON)

Oppenheimer Asset Management Inc. grew its stake in shares of Aon plc (NYSE:AON - Free Report) by 304.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 50,625 shares of the financial services provider's stock after acquiring an additional 38,098 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in AON were worth $20,204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Relyea Zuckerberg Hanson LLC lifted its position in shares of AON by 1.9% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,427 shares of the financial services provider's stock valued at $570,000 after acquiring an additional 27 shares during the period. Value Partners Investments Inc. raised its holdings in shares of AON by 1.9% during the 4th quarter. Value Partners Investments Inc. now owns 1,485 shares of the financial services provider's stock worth $533,000 after buying an additional 28 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of AON by 0.4% during the 1st quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock worth $2,916,000 after buying an additional 29 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of AON by 0.3% during the 1st quarter. Wesbanco Bank Inc. now owns 11,940 shares of the financial services provider's stock worth $4,765,000 after buying an additional 31 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of AON by 3.0% during the 4th quarter. Moors & Cabot Inc. now owns 1,130 shares of the financial services provider's stock worth $406,000 after buying an additional 33 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AON shares. Barclays lowered their price target on AON from $430.00 to $415.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Evercore ISI lowered their price target on AON from $420.00 to $398.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered 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. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 price target for the company in a report on Tuesday, May 13th. Finally, Redburn Partners set a $445.00 target price on AON in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $397.27.

AON Trading Up 1.5%

Shares of NYSE AON traded up $5.47 during trading on Monday, reaching $360.17. The company had a trading volume of 1,176,583 shares, compared to its average volume of 1,159,020. The company's fifty day moving average price is $359.37 and its 200-day moving average price is $371.20. Aon plc has a 12 month low of $285.35 and a 12 month high of $412.97. The stock has a market cap of $77.77 billion, a P/E ratio of 30.68, a PEG ratio of 2.12 and a beta of 0.86. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.26.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing analysts' consensus estimates of $6.04 by ($0.37). AON had a net margin of 15.58% and a return on equity of 52.71%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm posted $5.66 EPS. The company's quarterly revenue was up 16.2% on a year-over-year basis. As a group, research analysts expect that Aon plc will post 17.21 earnings per share for the current year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 1st. This is a positive change from AON's previous quarterly dividend of $0.68. AON's payout ratio is 25.38%.

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.