Prudential PLC Buys 4,428 Shares of Aon plc (NYSE:AON)

Key Points

• Prudential PLC increased its holdings in Aon plc by 60.0%, owning 11,804 shares worth $4.7 million after acquiring an additional 4,428 shares during the 1st quarter.
• The stock has seen significant analyst activity, with Piper Sandler and Jefferies Financial Group raising their price targets, reflecting a strong consensus rating of "Moderate Buy" and an average target price of approximately $410.69.
• Aon recently declared a quarterly dividend of $0.745 per share, with an ex-dividend date of August 1st, representing an annual yield of 0.8%.

Prudential PLC increased its stake in Aon plc (NYSE:AON - Free Report) by 60.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,804 shares of the financial services provider's stock after acquiring an additional 4,428 shares during the quarter. Prudential PLC's holdings in AON were worth $4,711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. HighTower Advisors LLC lifted its holdings in shares of AON by 13.3% in the 1st quarter. HighTower Advisors LLC now owns 43,738 shares of the financial services provider's stock worth $17,455,000 after purchasing an additional 5,142 shares in the last quarter. Peak Financial Management Inc. bought a new position in AON in the 1st quarter valued at about $208,000. Trust Asset Management LLC increased its holdings in AON by 5.0% during the 1st quarter. Trust Asset Management LLC now owns 2,467 shares of the financial services provider's stock worth $985,000 after purchasing an additional 117 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of AON by 3.0% in the first quarter. Public Sector Pension Investment Board now owns 57,858 shares of the financial services provider's stock worth $23,091,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Linscomb Wealth Inc. lifted its holdings in shares of AON by 13.2% in the first quarter. Linscomb Wealth Inc. now owns 1,761 shares of the financial services provider's stock valued at $703,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Stock Up 0.2%

Shares of AON stock traded up $0.84 during midday trading on Friday, reaching $367.19. 1,181,059 shares of the stock were exchanged, compared to its average volume of 1,546,041. The firm has a market cap of $79.18 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The company's 50 day moving average is $357.40 and its two-hundred day moving average is $370.60. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97.

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

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid 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 dividend payout ratio (DPR) is currently 24.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of AON from $414.00 to $409.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Barclays restated an "overweight" rating and issued a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Piper Sandler increased their price target on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Evercore ISI upped their price objective on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Citigroup initiated coverage on AON in a research note on Wednesday. They set a "neutral" rating and a $402.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $410.69.

AON Company Profile

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.