Public Sector Pension Investment Board Raises Holdings in Aon plc (NYSE:AON)

Key Points

• The Public Sector Pension Investment Board increased its stake in Aon plc by 3.0%, holding a total of 57,858 shares valued at approximately $23.09 million.
• Aon recently reported a quarterly earnings per share (EPS) of $3.49, exceeding analysts' estimates, with revenue reaching $4.16 billion.
• Aon declared a quarterly dividend of $0.745 per share, resulting in an annual yield of 0.8%, with the ex-dividend date set for August 1.

Public Sector Pension Investment Board boosted its holdings in Aon plc (NYSE:AON - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,858 shares of the financial services provider's stock after buying an additional 1,709 shares during the quarter. Public Sector Pension Investment Board's holdings in AON were worth $23,091,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AON. Polen Capital Management LLC grew its holdings in shares of AON by 318.1% during the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock worth $1,200,350,000 after purchasing an additional 2,288,397 shares during the last quarter. Nuveen LLC purchased a new position in shares of AON during the first quarter worth about $505,108,000. GAMMA Investing LLC grew its holdings in shares of AON by 56,460.0% during the first quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock worth $304,052,000 after purchasing an additional 760,516 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of AON by 5,877.4% during the fourth quarter. First Trust Advisors LP now owns 536,174 shares of the financial services provider's stock worth $192,572,000 after purchasing an additional 527,204 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock worth $1,210,864,000 after buying an additional 469,238 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Stock Performance

NYSE:AON traded up $7.07 during mid-day trading on Wednesday, reaching $370.88. The stock had a trading volume of 1,316,743 shares, compared to its average volume of 1,534,112. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market capitalization of $79.97 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.15 and a beta of 0.83. Aon plc has a twelve month low of $323.73 and a twelve month high of $412.97. The business has a 50 day simple moving average of $357.55 and a 200 day simple moving average of $370.68.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the firm earned $2.93 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 1st. AON's dividend payout ratio (DPR) is presently 24.96%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AON shares. Keefe, Bruyette & Woods decreased their target price 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. Evercore ISI increased their target price on shares of AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Wells Fargo & Company reiterated an "overweight" rating and set a $438.00 target price (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. Jefferies Financial Group upgraded shares of AON from a "hold" rating to a "buy" rating and increased their target price for the stock from $400.00 to $426.00 in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group upgraded shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 target price for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.