Jupiter Asset Management Ltd. Acquires New Position in Aon plc (NYSE:AON)

Jupiter Asset Management Ltd. acquired a new stake in Aon plc (NYSE:AON) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 62,785 shares of the financial services provider’s stock, valued at approximately $25,057,000.

A number of other institutional investors also recently bought and sold shares of the business. Portside Wealth Group LLC increased its stake in shares of AON by 530.6% in the first quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider’s stock worth $4,412,000 after acquiring an additional 9,302 shares during the period. Aviva PLC increased its stake in shares of AON by 19.0% in the fourth quarter. Aviva PLC now owns 255,760 shares of the financial services provider’s stock worth $91,859,000 after acquiring an additional 40,850 shares during the period. WCM Investment Management LLC grew its stake in shares of AON by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock worth $809,544,000 after purchasing an additional 6,038 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of AON by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider’s stock worth $11,183,000 after purchasing an additional 1,489 shares during the period. Finally, Catalyst Capital Advisors LLC grew its stake in shares of AON by 425.3% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider’s stock worth $761,000 after purchasing an additional 1,544 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Price Performance

AON stock opened at $353.09 on Friday. Aon plc has a 1 year low of $322.95 and a 1 year high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.73 and a current ratio of 1.52. The company’s fifty day moving average price is $358.07 and its 200 day moving average price is $370.81. The stock has a market capitalization of $76.14 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.10 and a beta of 0.83.

AON (NYSE:AON) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the previous year, the company posted $2.93 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 1st. AON’s payout ratio is 24.96%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AON shares. Evercore ISI raised their price objective on shares of AON from $411.00 to $421.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Jefferies Financial Group raised shares of AON from a “hold” rating to a “buy” rating and raised their price objective for the stock from $400.00 to $426.00 in a research note on Wednesday. The Goldman Sachs Group raised shares of AON from a “neutral” rating to a “buy” rating and set a $408.00 price objective on the stock in a research note on Tuesday, May 13th. Piper Sandler raised their price objective on shares of AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AON from $394.00 to $409.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $409.21.

About AON

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.