Aon plc (NYSE:AON) Shares Acquired by R Squared Ltd

Key Points

• R Squared Ltd significantly increased its stake in Aon plc by 1,758.3%, now owning 2,230 shares valued at approximately $890,000.
• Analysts have adjusted their price targets for Aon, with Wells Fargo setting a target at $438.00 and Jefferies increasing theirs to $426.00, signaling a positive outlook on the stock.
• Aon recently declared a quarterly dividend of $0.745 per share, amounting to an annualized payout of $2.98 and a dividend yield of 0.8%.

R Squared Ltd raised its position in Aon plc (NYSE:AON - Free Report) by 1,758.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,230 shares of the financial services provider's stock after purchasing an additional 2,110 shares during the quarter. AON comprises 1.0% of R Squared Ltd's investment portfolio, making the stock its 12th biggest position. R Squared Ltd's holdings in AON were worth $890,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Financial Gravity Asset Management Inc. purchased a new stake in shares of AON during the first quarter worth approximately $28,000. HHM Wealth Advisors LLC raised its stake in AON by 54.7% during the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock worth $33,000 after purchasing an additional 29 shares during the period. Tsfg LLC purchased a new position in AON in the first quarter valued at approximately $37,000. Garde Capital Inc. purchased a new stake in shares of AON during the first quarter valued at approximately $42,000. Finally, Meeder Asset Management Inc. grew its position in shares of AON by 111.3% during the first quarter. Meeder Asset Management Inc. now owns 112 shares of the financial services provider's stock worth $45,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AON. Barclays reissued an "overweight" rating and set a $420.00 price target (up from $401.00) on shares of AON in a report on Thursday. Piper Sandler boosted their price target on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Jefferies Financial Group raised shares of AON from a "hold" rating to a "buy" rating and boosted their price target for the stock from $400.00 to $426.00 in a research note on Wednesday, July 30th. Wells Fargo & Company reissued an "overweight" rating and set a $438.00 price target (up from $436.00) on shares of AON in a research report on Thursday, July 10th. Finally, Evercore ISI upped their target price on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $409.21.

AON Price Performance

Shares of AON traded up $7.23 during midday trading on Monday, hitting $360.69. 1,133,737 shares of the company traded hands, compared to its average volume of 1,430,810. The firm has a 50 day moving average of $358.07 and a 200-day moving average of $370.83. Aon plc has a 52 week low of $322.95 and a 52 week high of $412.97. 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 stock has a market cap of $77.78 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 2.10 and a beta of 0.83.

AON (NYSE:AON - Get Free Report) last released its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating 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 company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. On average, 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. Stockholders of record on Friday, August 1st will be paid a dividend of $0.745 per share. The ex-dividend date is Friday, August 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. AON's dividend payout ratio (DPR) is currently 24.96%.

AON 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.