Roth Capital Comments on Aon plc's Q2 2024 Earnings (NYSE:AON)

Aon plc (NYSE:AON - Free Report) - Research analysts at Roth Capital decreased their Q2 2024 earnings per share estimates for shares of AON in a research note issued on Monday, April 29th. Roth Capital analyst H. Fong now forecasts that the financial services provider will earn $3.02 per share for the quarter, down from their previous estimate of $3.16. The consensus estimate for AON's current full-year earnings is $15.82 per share. Roth Capital also issued estimates for AON's Q3 2024 earnings at $2.44 EPS, Q4 2024 earnings at $4.56 EPS, FY2024 earnings at $15.55 EPS and Q2 2025 earnings at $3.15 EPS.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company cut their price target on AON from $300.00 to $289.00 and set an "underweight" rating for the company in a report on Monday. TD Cowen assumed coverage on AON in a report on Wednesday, January 10th. They set an "outperform" rating and a $390.00 target price for the company. The Goldman Sachs Group dropped their target price on AON from $350.00 to $310.00 and set a "neutral" rating for the company in a report on Tuesday, January 9th. UBS Group dropped their target price on AON from $333.00 to $308.00 and set a "neutral" rating for the company in a report on Monday, February 5th. Finally, Royal Bank of Canada dropped their target price on AON from $325.00 to $315.00 and set a "sector perform" rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, AON has a consensus rating of "Hold" and a consensus price target of $329.69.

AON Price Performance

AON stock traded up $1.64 during mid-day trading on Tuesday, hitting $282.01. 4,377,120 shares of the company's stock traded hands, compared to its average volume of 1,104,376. The firm has a 50 day simple moving average of $315.83 and a two-hundred day simple moving average of $313.36. AON has a fifty-two week low of $268.06 and a fifty-two week high of $347.37. The stock has a market cap of $55.98 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.72 and a beta of 0.86.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the business earned $5.17 EPS. The company's revenue for the quarter was up 5.1% compared to the same quarter last year.

Hedge Funds Weigh In On AON

Several institutional investors have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC lifted its stake in AON by 5.1% in the third quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider's stock valued at $215,000 after buying an additional 32 shares during the period. Capital Planning Advisors LLC increased its holdings in shares of AON by 0.3% during the third quarter. Capital Planning Advisors LLC now owns 11,793 shares of the financial services provider's stock valued at $3,824,000 after acquiring an additional 35 shares in the last quarter. Valley Wealth Managers Inc. increased its holdings in shares of AON by 4.9% during the third quarter. Valley Wealth Managers Inc. now owns 777 shares of the financial services provider's stock valued at $252,000 after acquiring an additional 36 shares in the last quarter. Lincoln National Corp increased its holdings in shares of AON by 0.7% during the third quarter. Lincoln National Corp now owns 5,446 shares of the financial services provider's stock valued at $1,766,000 after acquiring an additional 37 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its holdings in shares of AON by 2.2% during the third quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider's stock valued at $560,000 after acquiring an additional 37 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael Neller sold 750 shares of AON stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $312.00, for a total value of $234,000.00. Following the transaction, the insider now directly owns 3,869 shares of the company's stock, valued at $1,207,128. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AON news, insider Lisa Stevens sold 13,000 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $315.26, for a total value of $4,098,380.00. Following the transaction, the insider now directly owns 10,073 shares of the company's stock, valued at $3,175,613.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Neller sold 750 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $312.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now directly owns 3,869 shares in the company, valued at $1,207,128. The disclosure for this sale can be found here. Insiders have sold a total of 74,532 shares of company stock valued at $23,335,805 over the last ninety days. 1.15% of the stock is owned by company insiders.

AON Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.675 per share. This is a boost from AON's previous quarterly dividend of $0.62. This represents a $2.70 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, April 30th. AON's payout ratio is 19.28%.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.