Russell Investments Group Ltd. Acquires 34,821 Shares of Aon plc (NYSE:AON)

Key Points

• Russell Investments Group Ltd. increased its stake in Aon plc by 13.7%, acquiring 34,821 shares for a total of 288,306 shares valued at approximately $115 million.
• Aon plc's recent earnings report revealed an EPS of $3.49, surpassing estimates, with revenue reaching $4.16 billion and a net margin of 15.54%.
• The company's stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $411.27.

Russell Investments Group Ltd. grew its holdings in shares of Aon plc (NYSE:AON - Free Report) by 13.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,306 shares of the financial services provider's stock after acquiring an additional 34,821 shares during the period. Russell Investments Group Ltd. owned about 0.13% of AON worth $115,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AON. Financial Gravity Asset Management Inc. bought a new stake in shares of AON during the 1st quarter valued at $28,000. HHM Wealth Advisors LLC grew its position in shares of AON by 54.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 29 shares during the period. Tsfg LLC bought a new stake in shares of AON during the 1st quarter valued at $37,000. Accent Capital Management LLC bought a new stake in shares of AON during the 1st quarter valued at $40,000. Finally, Garde Capital Inc. purchased a new position in shares of AON during the 1st quarter valued at $42,000. Institutional investors own 86.14% of the company's stock.

AON Stock Down 1.1%

Shares of NYSE AON opened at $364.17 on Wednesday. The firm's 50-day moving average price is $357.60 and its 200-day moving average price is $370.68. 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 stock has a market capitalization of $78.53 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 2.18 and a beta of 0.83. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97.

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. The firm had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The business's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.93 EPS. On average, equities research analysts anticipate that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 1st. AON's dividend payout ratio is currently 24.96%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AON shares. The Goldman Sachs Group upgraded shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 target price on the stock in a research note on Tuesday, May 13th. Jefferies Financial Group upgraded shares of AON from a "hold" rating to a "buy" rating and lifted their target price for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. Piper Sandler lifted their target price on shares of AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Evercore ISI lifted their target price on shares of AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company restated 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, AON presently has a consensus rating of "Moderate Buy" and a consensus price target of $411.27.

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.

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