State of Alaska Department of Revenue Grows Position in Aon plc $AON

Key Points

• The State of Alaska Department of Revenue increased its stake in Aon plc by 18.2% in Q2, now owning 29,935 shares valued at approximately $10.68 million.
• Aon recently reported earnings of $3.49 per share, exceeding estimates and showing a revenue increase of 10.5% year-over-year with total revenue at $4.16 billion.
• Institutional investors own 86.14% of Aon's stock, indicating strong institutional interest in the company with positive analyst ratings.

State of Alaska Department of Revenue grew its position in shares of Aon plc (NYSE:AON - Free Report) by 18.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,935 shares of the financial services provider's stock after purchasing an additional 4,600 shares during the quarter. State of Alaska Department of Revenue's holdings in AON were worth $10,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new position in shares of AON in the first quarter worth about $28,000. Saudi Central Bank purchased a new position in shares of AON in the 1st quarter valued at about $31,000. HHM Wealth Advisors LLC raised its holdings in AON by 54.7% in the 1st 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. Pinnacle Bancorp Inc. boosted its position in AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider's stock worth $32,000 after purchasing an additional 33 shares in the last quarter. Finally, Tsfg LLC acquired a new stake in AON in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Stock Up 1.3%

Shares of NYSE AON opened at $356.24 on Friday. 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 has a 50-day moving average of $363.72 and a 200 day moving average of $364.99. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The stock has a market cap of $76.82 billion, a PE ratio of 29.84, a P/E/G ratio of 2.11 and a beta of 0.87.

AON (NYSE:AON - Get Free Report) last issued its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping 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 business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same period in the previous year, the firm posted $2.93 EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.745 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON's dividend payout ratio (DPR) is 24.96%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AON shares. Citigroup began coverage on AON in a research report on Wednesday, August 13th. They set a "neutral" rating and a $402.00 target price on the stock. 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 report on Monday, July 28th. Morgan Stanley upgraded shares of AON from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $385.00 to $430.00 in a research report on Thursday, September 11th. Wolfe Research started coverage on AON in a report on Monday, September 15th. They issued a "peer perform" rating on the stock. Finally, Barclays reiterated an "overweight" rating and set a $420.00 price objective (up from $401.00) on shares of AON in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $414.69.

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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