Voya Investment Management LLC Has $297.02 Million Stock Position in Aon plc $AON

Key Points

• Voya Investment Management LLC increased its stake in Aon plc by 23.3% during the 1st quarter, now owning approximately 0.34% of the company, valued at $297 million.
• Aon reported earnings of $3.49 per share for the last quarter, surpassing analyst expectations and reflecting a 10.5% revenue increase from the same quarter last year.
• The firm announced a quarterly dividend of $0.745 per share, resulting in an annualized yield of 0.8% with a payout ratio of 24.96%.

Voya Investment Management LLC boosted its holdings in shares of Aon plc (NYSE:AON - Free Report) by 23.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 744,241 shares of the financial services provider's stock after buying an additional 140,505 shares during the period. Voya Investment Management LLC owned approximately 0.34% of AON worth $297,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of AON. Polen Capital Management LLC increased its position in AON by 318.1% in the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock worth $1,200,350,000 after purchasing an additional 2,288,397 shares during the last quarter. Nuveen LLC acquired a new position in AON in the 1st quarter worth about $505,108,000. Wellington Management Group LLP acquired a new position in AON in the 1st quarter worth about $490,634,000. GAMMA Investing LLC increased its position in AON by 56,460.0% in the 1st quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock worth $304,052,000 after purchasing an additional 760,516 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in AON by 18.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock worth $1,210,864,000 after purchasing an additional 469,238 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Price Performance

Shares of NYSE:AON opened at $371.74 on Friday. The business has a 50 day moving average price of $363.54 and a 200 day moving average price of $368.73. Aon plc has a twelve month low of $323.73 and a twelve month high of $412.97. The company has a market cap of $80.16 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.15 and a beta of 0.87. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93.

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 for the quarter, beating 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 firm 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 company earned $2.93 EPS. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $0.745 per share. The ex-dividend date was Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.8%. AON's dividend payout ratio is presently 24.96%.

Analyst Ratings Changes

Several brokerages have weighed in on AON. Morgan Stanley raised AON from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $385.00 to $430.00 in a research report on Thursday. Wells Fargo & Company reiterated an "overweight" rating and set a $438.00 price target (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. Piper Sandler upped their price target on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Citigroup started coverage on AON in a research note on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price target for the company. Finally, Cantor Fitzgerald upgraded AON to a "strong-buy" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AON presently has a consensus rating of "Moderate Buy" and a consensus price target of $415.50.

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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