Aon plc (NYSE:AON) Stake Boosted by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in Aon plc (NYSE:AON - Free Report) by 167.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,917 shares of the financial services provider's stock after purchasing an additional 2,451 shares during the period. Penserra Capital Management LLC's holdings in AON were worth $1,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Portside Wealth Group LLC boosted its holdings in shares of AON by 530.6% in the 1st quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider's stock valued at $4,412,000 after buying an additional 9,302 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AON by 27.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,548 shares of the financial services provider's stock worth $34,676,000 after purchasing an additional 20,942 shares during the period. Aviva PLC increased its stake in shares of AON by 19.0% during the fourth quarter. Aviva PLC now owns 255,760 shares of the financial services provider's stock worth $91,859,000 after acquiring an additional 40,850 shares during the period. WCM Investment Management LLC lifted its holdings in shares of AON by 0.3% in the 1st quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider's stock valued at $809,544,000 after buying an additional 6,038 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of 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 purchasing an additional 1,489 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Stock Performance

NYSE:AON traded up $2.08 during midday trading on Wednesday, reaching $356.65. 875,084 shares of the company traded hands, compared to its average volume of 1,166,036. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $77.02 billion, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 2.11 and a beta of 0.84. Aon plc has a twelve month low of $292.45 and a twelve month high of $412.97. The company has a fifty day moving average price of $358.02 and a 200 day moving average price of $370.74.

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

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.745 dividend. The ex-dividend date was Thursday, May 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.84%. This is a boost from AON's previous quarterly dividend of $0.68. AON's payout ratio is currently 25.38%.

Analyst Upgrades and Downgrades

A number of analysts have commented on AON shares. Redburn Partners set a $445.00 target price on AON in a research report on Tuesday, March 25th. Piper Sandler upgraded shares of AON from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $384.00 to $378.00 in a report on Monday, April 28th. Jefferies Financial Group lifted their price objective on AON from $396.00 to $416.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Barclays lowered their price target on AON from $415.00 to $401.00 and set an "overweight" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of AON from $394.00 to $409.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $396.33.

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.