Philadelphia Financial Management of San Francisco LLC Invests $10.89 Million in Aon plc $AON

Key Points

• Philadelphia Financial Management of San Francisco LLC invested $10.89 million in Aon plc, acquiring 27,289 shares, making it the 20th largest holding in their portfolio.
• Aon has seen significant support from institutional investors, with 86.14% of its stock owned by such entities, including Vanguard and Bank of New York Mellon, which both increased their positions in the company.
• The firm recently announced a quarterly dividend of $0.745 per share, representing a 0.8% yield with a payout ratio of 24.96%.

Philadelphia Financial Management of San Francisco LLC acquired a new stake in Aon plc (NYSE:AON - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 27,289 shares of the financial services provider's stock, valued at approximately $10,891,000. AON accounts for 2.1% of Philadelphia Financial Management of San Francisco LLC's investment portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Night Owl Capital Management LLC increased its position in AON by 3.9% in the 1st quarter. Night Owl Capital Management LLC now owns 158,553 shares of the financial services provider's stock valued at $63,277,000 after buying an additional 5,903 shares in the last quarter. Nippon Life Global Investors Americas Inc. increased its position in AON by 4.7% in the 1st quarter. Nippon Life Global Investors Americas Inc. now owns 22,670 shares of the financial services provider's stock valued at $9,047,000 after buying an additional 1,010 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AON by 10.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,329 shares of the financial services provider's stock worth $9,310,000 after purchasing an additional 2,117 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in AON by 44.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,848 shares of the financial services provider's stock worth $3,132,000 after purchasing an additional 2,418 shares in the last quarter. Finally, Hancock Whitney Corp increased its holdings in AON by 9.3% during the 1st quarter. Hancock Whitney Corp now owns 1,989 shares of the financial services provider's stock worth $794,000 after purchasing an additional 170 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cantor Fitzgerald raised AON to a "strong-buy" rating in a report on Wednesday, August 13th. Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $400.00 to $426.00 in a report on Wednesday, July 30th. Evercore ISI upped their target price on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Morgan Stanley raised AON from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $385.00 to $430.00 in a report on Thursday. Finally, Piper Sandler upped their target price on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $415.50.

AON Stock Performance

AON stock traded up $7.68 during trading on Thursday, hitting $370.05. The stock had a trading volume of 681,424 shares, compared to its average volume of 1,304,626. Aon plc has a 1 year low of $323.73 and a 1 year 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. The stock's 50 day moving average is $363.21 and its two-hundred day moving average is $368.87. The stock has a market cap of $79.79 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 2.17 and a beta of 0.87.

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

AON Announces Dividend

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

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.