Wallace Advisory Group LLC Acquires New Position in Aon plc $AON

Key Points

• Wallace Advisory Group LLC has acquired a new stake in Aon plc, purchasing 2,384 shares valued at approximately $851,000 during the 2nd quarter.
• Aon plc reported a $3.49 EPS for the last quarter, exceeding analysts' expectations of $3.40 and marking a 10.5% revenue increase compared to the same period last year.
• The company will pay a quarterly dividend of $0.745 per share on November 14th, which translates to an annualized dividend yield of 0.9%.

Wallace Advisory Group LLC acquired a new stake in Aon plc (NYSE:AON - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,384 shares of the financial services provider's stock, valued at approximately $851,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of AON in the first quarter valued at about $28,000. Saudi Central Bank purchased a new position in AON during the 1st quarter valued at about $31,000. HHM Wealth Advisors LLC increased its holdings in AON by 54.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 29 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in AON during the 2nd quarter valued at about $32,000. Finally, Pinnacle Bancorp Inc. increased its holdings in AON by 56.9% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Trading Down 0.7%

NYSE AON opened at $344.30 on Tuesday. The company's fifty day simple moving average is $362.79 and its 200-day simple moving average is $360.75. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. 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 stock has a market cap of $74.24 billion, a P/E ratio of 28.84, a PEG ratio of 2.04 and a beta of 0.89.

AON (NYSE:AON - Get Free Report) last posted its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.09. The business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 earnings per share. Equities research analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.745 per share. The ex-dividend date is Monday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON's dividend payout ratio (DPR) is 24.96%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AON shares. Evercore ISI raised their target price on shares of AON from $421.00 to $427.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. dropped their target price on shares of AON from $436.00 to $433.00 and set an "overweight" rating for the company in a report on Thursday, October 9th. Morgan Stanley upgraded shares of AON from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $385.00 to $430.00 in a report on Thursday, September 11th. Barclays reiterated an "overweight" rating and set a $420.00 price target (up from $401.00) on shares of AON in a report on Thursday, July 31st. Finally, Citigroup initiated coverage on shares of AON in a report on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $420.00.

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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