Rafferty Asset Management LLC Buys 2,648 Shares of Aon plc (NYSE:AON)

Rafferty Asset Management LLC increased its position in shares of Aon plc (NYSE:AON - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,300 shares of the financial services provider's stock after purchasing an additional 2,648 shares during the period. Rafferty Asset Management LLC's holdings in AON were worth $27,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AON. Endeavor Private Wealth Inc. bought a new stake in AON during the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. boosted its stake in shares of AON by 2,025.0% during the 4th quarter. Richardson Financial Services Inc. now owns 85 shares of the financial services provider's stock worth $30,000 after acquiring an additional 81 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of AON during the 4th quarter worth $32,000. Centricity Wealth Management LLC bought a new stake in shares of AON during the 4th quarter worth $39,000. Finally, Kestra Investment Management LLC bought a new stake in shares of AON during the 4th quarter worth $39,000. Institutional investors own 86.14% of the company's stock.

AON Stock Up 0.8%

NYSE:AON traded up $2.79 during trading hours on Monday, reaching $364.71. The company's stock had a trading volume of 1,140,103 shares, compared to its average volume of 1,207,171. The company has a market cap of $78.76 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. Aon plc has a one year low of $275.07 and a one year high of $412.97. The business's 50-day moving average is $372.99 and its 200-day moving average is $375.17. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.40 and a quick ratio of 1.40.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The financial services provider reported $5.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.04 by ($0.37). AON had a net margin of 16.91% and a return on equity of 70.84%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the company earned $5.66 earnings per share. The firm's revenue was up 16.2% on a year-over-year basis. Equities research analysts predict that Aon plc will post 17.21 EPS for the current year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.82%. This is a boost from AON's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, May 1st. AON's dividend payout ratio is 25.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AON shares. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 price objective for the company in a research note on Tuesday, May 13th. Wells Fargo & Company boosted their target price on shares of AON from $410.00 to $445.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on shares of AON from $394.00 to $409.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Jefferies Financial Group boosted their target price on shares of AON from $396.00 to $416.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Finally, Redburn Partners set a $445.00 target price on shares of AON in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $391.75.

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.