United Services Automobile Association Makes New $2.03 Million Investment in Aon plc $AON

Key Points

• United Services Automobile Association has acquired a new stake in Aon plc, purchasing 5,134 shares valued at approximately $2.03 million.
• Analysts have upgraded Aon to a "buy" rating, with target prices notably increased by firms such as Jefferies and Goldman Sachs, indicating a forecasted positive outlook for the stock.
• Aon recently announced a quarterly dividend of $0.745, yielding around 0.8%, reflecting its solid financial performance with a net margin of 15.54% and a return on equity of 50.91%.

United Services Automobile Association acquired a new position in Aon plc (NYSE:AON - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,134 shares of the financial services provider's stock, valued at approximately $2,026,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of AON in the 1st quarter valued at about $28,000. Saudi Central Bank acquired a new stake in shares of AON in the first quarter valued at approximately $31,000. HHM Wealth Advisors LLC increased its stake in shares of AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 29 shares during the period. Tsfg LLC bought a new position in shares of AON in the first quarter valued at approximately $37,000. Finally, Accent Capital Management LLC bought a new position in shares of AON in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AON shares. Jefferies Financial Group upgraded shares of 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 report on Wednesday, July 30th. Morgan Stanley restated a "cautious" rating on shares of AON in a report on Monday, August 18th. 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 report on Tuesday, May 13th. Barclays restated an "overweight" rating and set a $420.00 target price (up from $401.00) on shares of AON in a report on Thursday, July 31st. Finally, Piper Sandler raised their target price on shares of AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $412.69.

AON Stock Down 0.9%

AON stock opened at $370.06 on Monday. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. The company has a market cap of $79.80 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 2.20 and a beta of 0.87. The company has a 50 day moving average of $362.56 and a two-hundred day moving average of $369.08.

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 (EPS) for the quarter, topping 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 quarter in the prior year, the firm earned $2.93 EPS. The company's revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

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

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