USS Investment Management Ltd Purchases 40,969 Shares of Aon plc $AON

Key Points

• USS Investment Management Ltd increased its Aon position by 6.4% in the fourth quarter, buying 40,969 additional shares and bringing its total holding to 681,743 shares worth about $240.6 million.
• Several other institutional investors also raised their stakes in Aon, and institutional ownership stands at 86.14%, underscoring strong professional investor interest in the stock.
• Aon reported better-than-expected quarterly results, with EPS of $6.48 versus $6.37 expected and revenue of $5.03 billion, while also raising its quarterly dividend to $0.82 per share.

USS Investment Management Ltd increased its position in Aon plc (NYSE:AON - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 681,743 shares of the financial services provider's stock after purchasing an additional 40,969 shares during the period. AON makes up approximately 1.2% of USS Investment Management Ltd's holdings, making the stock its 15th biggest position. USS Investment Management Ltd owned 0.32% of AON worth $240,591,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AON. NewEdge Advisors LLC boosted its stake in AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider's stock worth $5,246,000 after purchasing an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in AON by 9.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider's stock worth $34,992,000 after purchasing an additional 8,216 shares in the last quarter. Alliancebernstein L.P. boosted its stake in AON by 35.2% in the 2nd quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider's stock worth $104,249,000 after purchasing an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in AON by 27.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider's stock worth $995,000 after purchasing an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in AON by 46.1% in the 2nd quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider's stock worth $14,286,000 after purchasing an additional 12,631 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

AON has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of AON from $416.00 to $401.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Citigroup boosted their target price on AON from $412.00 to $420.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Barclays decreased their target price on AON from $381.00 to $372.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Piper Sandler boosted their target price on AON from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Finally, Mizuho decreased their target price on AON from $394.00 to $389.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $396.81.

AON Price Performance

Shares of NYSE:AON opened at $335.51 on Monday. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The business has a 50-day simple moving average of $322.69 and a two-hundred day simple moving average of $332.60. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $71.66 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.76 and a beta of 0.71.

AON (NYSE:AON - Get Free Report) last issued its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts' consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the previous year, the firm earned $5.67 EPS. AON's revenue was up 6.4% on a year-over-year basis. On average, analysts expect that Aon plc will post 19.1 earnings per share for the current year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is an increase from AON's previous quarterly dividend of $0.75. AON's payout ratio is currently 16.36%.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

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