Oppenheimer Asset Management Inc. Boosts Stock Position in Aon plc (NYSE:AON)

Oppenheimer Asset Management Inc. grew its position in Aon plc (NYSE:AON) by 9.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,181 shares of the financial services provider’s stock after buying an additional 1,102 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AON were worth $3,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AON. Frazier Financial Advisors LLC acquired a new stake in AON in the fourth quarter valued at approximately $31,000. Y.D. More Investments Ltd purchased a new stake in shares of AON during the 2nd quarter valued at $31,000. Rise Advisors LLC acquired a new stake in shares of AON in the 1st quarter worth $37,000. LRI Investments LLC acquired a new position in AON during the 1st quarter valued at about $55,000. Finally, Bruce G. Allen Investments LLC raised its stake in AON by 52.7% in the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AON. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AON from $311.00 to $353.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Piper Sandler raised their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company raised their price objective on AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $337.27.

AON Price Performance

NYSE:AON opened at $350.69 on Tuesday. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42. The company has a 50 day moving average price of $326.56 and a 200-day moving average price of $310.44. Aon plc has a 1-year low of $268.06 and a 1-year high of $353.54. The firm has a market cap of $76.25 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.

AON (NYSE:AON) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the firm posted $2.76 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. Equities research analysts forecast that Aon plc will post 15.23 EPS for the current year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a yield of 0.77%. AON’s dividend payout ratio is currently 21.16%.

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.