Texas Capital Bank Wealth Management Services Inc Acquires Shares of 1,592 Aon plc $AON

Key Points

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Texas Capital Bank Wealth Management Services Inc acquired a new stake in Aon plc (NYSE:AON - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,592 shares of the financial services provider's stock, valued at approximately $635,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Portside Wealth Group LLC raised its stake in AON by 530.6% in the first quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider's stock valued at $4,412,000 after buying an additional 9,302 shares during the period. WCM Investment Management LLC raised its stake in AON by 0.3% in the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider's stock valued at $809,544,000 after buying an additional 6,038 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of AON by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider's stock worth $11,183,000 after purchasing an additional 1,489 shares during the period. Catalyst Capital Advisors LLC increased its stake in shares of AON by 425.3% during the first quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider's stock worth $761,000 after purchasing an additional 1,544 shares during the period. Finally, Ninety One North America Inc. increased its stake in shares of AON by 64.4% during the first quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider's stock worth $2,986,000 after purchasing an additional 2,932 shares during the period. Institutional investors own 86.14% of the company's stock.

AON Stock Performance

Shares of AON opened at $365.96 on Tuesday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a 50-day moving average of $357.64 and a 200-day moving average of $370.56. The company has a market cap of $78.91 billion, a PE ratio of 30.65, a P/E/G ratio of 2.17 and a beta of 0.83. Aon plc has a one year low of $323.73 and a one year high of $412.97.

AON (NYSE:AON - Get Free Report) last issued its earnings results 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. The company had revenue of $4.16 billion during 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 firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $2.93 EPS. On average, equities research analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.745 dividend. The ex-dividend date was 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%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AON shares. Barclays reissued an "overweight" rating and set a $420.00 price target (up previously from $401.00) on shares of AON in a research report on Thursday, July 31st. Morgan Stanley reiterated a "cautious" rating on shares of AON in a research note on Monday. Evercore ISI increased their price target on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and raised their target price for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 target price for the company in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $409.18.

About AON

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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