Oppenheimer Asset Management Inc. Raises Stake in Aon plc (NYSE:AON)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Aon plc (NYSE:AON) by 304.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,625 shares of the financial services provider’s stock after acquiring an additional 38,098 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AON were worth $20,204,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AON. Kestra Investment Management LLC purchased a new position in AON during the 4th quarter valued at about $39,000. Global Retirement Partners LLC lifted its position in AON by 21.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,266 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 397 shares during the period. First Horizon Advisors Inc. lifted its position in AON by 33.4% during the 4th quarter. First Horizon Advisors Inc. now owns 503 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 126 shares during the period. Wealthspire Advisors LLC lifted its position in AON by 5.1% during the 4th quarter. Wealthspire Advisors LLC now owns 296,862 shares of the financial services provider’s stock valued at $106,621,000 after acquiring an additional 14,283 shares during the period. Finally, Howard Capital Management Inc. purchased a new position in AON in the fourth quarter worth about $448,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Performance

Shares of NYSE AON opened at $354.82 on Monday. The firm has a 50 day moving average of $359.85 and a 200 day moving average of $371.32. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $76.62 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.12 and a beta of 0.86. Aon plc has a 12-month low of $285.35 and a 12-month high of $412.97.

AON (NYSE:AON) last announced its earnings results on Friday, April 25th. The financial services provider reported $5.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.04 by ($0.37). The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.83 billion. AON had a net margin of 15.58% and a return on equity of 52.71%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.66 earnings per share. On average, research analysts anticipate that Aon plc will post 17.21 earnings per share for the current year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.84%. This is a positive change from AON’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, May 1st. AON’s payout ratio is 25.38%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of AON from $396.00 to $416.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Barclays decreased their target price on shares of AON from $430.00 to $415.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of AON from $394.00 to $409.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Redburn Atlantic raised shares of AON to a “hold” rating in a report on Tuesday, March 25th. Finally, Redburn Partners set a $445.00 target price on shares of AON in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $397.27.

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.