Picton Mahoney Asset Management Has $20.37 Million Stake in Aon plc (NYSE:AON)

Key Points

• Picton Mahoney Asset Management reduced its stake in Aon plc by 9.9%, now holding 51,040 shares valued at approximately $20.37 million.
• Aon recently declared a quarterly dividend of $0.745 per share, with an annualized yield of 0.81% and a payout ratio of 24.96%.
• The company's latest earnings report showed an EPS of $3.49, surpassing estimates by $0.09, and reflecting a 10.5% year-over-year revenue increase.

Picton Mahoney Asset Management lessened its stake in Aon plc (NYSE:AON - Free Report) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,040 shares of the financial services provider's stock after selling 5,627 shares during the period. Picton Mahoney Asset Management's holdings in AON were worth $20,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AON. Norden Group LLC boosted its holdings in AON by 886.9% in the first quarter. Norden Group LLC now owns 6,474 shares of the financial services provider's stock valued at $2,584,000 after acquiring an additional 5,818 shares during the last quarter. Bellwether Advisors LLC acquired a new position in shares of AON in the 1st quarter worth approximately $1,794,000. HB Wealth Management LLC boosted its stake in shares of AON by 45.8% in the 1st quarter. HB Wealth Management LLC now owns 7,749 shares of the financial services provider's stock valued at $3,093,000 after purchasing an additional 2,436 shares during the last quarter. Applied Finance Capital Management LLC increased its position in shares of AON by 2.8% during the first quarter. Applied Finance Capital Management LLC now owns 5,094 shares of the financial services provider's stock worth $2,033,000 after buying an additional 139 shares during the period. Finally, Equitable Trust Co. raised its stake in AON by 7.0% during the first quarter. Equitable Trust Co. now owns 7,679 shares of the financial services provider's stock worth $3,065,000 after buying an additional 502 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Stock Performance

Shares of AON stock opened at $368.70 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.73 and a debt-to-equity ratio of 1.93. The firm has a fifty day simple moving average of $358.36 and a two-hundred day simple moving average of $371.03. Aon plc has a 12 month low of $315.02 and a 12 month high of $412.97. The firm has a market capitalization of $79.62 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

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

AON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, August 1st. AON's dividend payout ratio (DPR) is presently 24.96%.

Analyst Upgrades and Downgrades

A number of analysts have commented on AON shares. Piper Sandler upped their price target on shares of AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday. The Goldman Sachs Group upgraded AON from a "neutral" rating to a "buy" rating and set a $408.00 target price on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on AON from $394.00 to $409.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Jefferies Financial Group boosted their price target on AON from $396.00 to $416.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AON currently has an average rating of "Hold" and a consensus price target of $407.14.

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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