Peak Financial Advisors LLC Makes New Investment in Aon plc $AON

Key Points

• Peak Financial Advisors LLC has made a new investment in Aon plc by purchasing 6,908 shares worth approximately $2.46 million, marking Aon as the 29th largest position in their portfolio.
• Aon recently reported earnings of $3.49 per share, surpassing analysts' expectations, with a revenue of $4.16 billion, indicating a 10.5% year-over-year growth.
• The company declared a quarterly dividend of $0.745 per share, reflecting a 0.8% dividend yield, and its payout ratio stands at about 25%.

Peak Financial Advisors LLC purchased a new position in shares of Aon plc (NYSE:AON - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,908 shares of the financial services provider's stock, valued at approximately $2,464,000. AON makes up 1.3% of Peak Financial Advisors LLC's portfolio, making the stock its 29th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. purchased a new stake in AON in the 1st quarter valued at $28,000. Saudi Central Bank acquired a new position in shares of AON during the 1st quarter worth $31,000. HHM Wealth Advisors LLC grew its stake in AON by 54.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 29 shares during the last quarter. Tsfg LLC acquired a new stake in AON in the 1st quarter valued at about $37,000. Finally, Accent Capital Management LLC acquired a new stake in AON in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Price Performance

NYSE:AON opened at $372.12 on Friday. The business's 50-day moving average price is $363.89 and its 200 day moving average price is $368.34. The firm has a market cap of $80.24 billion, a P/E ratio of 31.17, a PEG ratio of 2.21 and a beta of 0.87. Aon plc has a 52-week low of $323.73 and a 52-week 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 issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.09. The firm had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.AON's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. As a group, sell-side analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 1st. AON's payout ratio is currently 24.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup assumed coverage on shares of AON in a report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 target price on the stock. Evercore ISI raised their price target on shares of AON from $411.00 to $421.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Jefferies Financial Group raised shares of AON from a "hold" rating to a "buy" rating and increased their price objective for the company from $400.00 to $426.00 in a research report on Wednesday, July 30th. Morgan Stanley raised shares of AON from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $385.00 to $430.00 in a research report on Thursday. Finally, Wells Fargo & Company reissued 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 investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $415.50.

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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