Wesbanco Bank Inc. Boosts Stock Position in Aon plc $AON

Key Points

• Wesbanco Bank Inc. increased its stake in Aon plc by 17.4%, owning 14,016 shares worth $5 million after purchasing 2,076 additional shares in the second quarter.
• Several analysts, including Morgan Stanley and Barclays, have upgraded their ratings and price targets for AON, with a consensus target price now at $415.50.
• Aon recently declared a quarterly dividend of $0.745 per share, representing an annualized dividend of $2.98 and a yield of 0.8%.

Wesbanco Bank Inc. increased its stake in shares of Aon plc (NYSE:AON - Free Report) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,016 shares of the financial services provider's stock after purchasing an additional 2,076 shares during the quarter. Wesbanco Bank Inc.'s holdings in AON were worth $5,000,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several analysts have commented on AON shares. Morgan Stanley upgraded AON from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $385.00 to $430.00 in a report on Thursday. Barclays restated an "overweight" rating and issued a $420.00 price target (up previously from $401.00) on shares of AON in a report on Thursday, July 31st. Evercore ISI lifted their price target on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Piper Sandler lifted their price objective on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Citigroup assumed coverage on AON in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $415.50.

AON Stock Performance

AON stock opened at $372.12 on Monday. 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 firm has a market cap of $80.24 billion, a P/E ratio of 31.17, a P/E/G ratio of 2.20 and a beta of 0.87. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The stock's 50 day simple moving average is $363.89 and its 200 day simple moving average is $368.10.

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

AON Announces Dividend

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

AON Company 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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