Polen Capital Management LLC Grows Stock Position in Aon plc (NYSE:AON)

Polen Capital Management LLC raised its stake in Aon plc (NYSE:AON) by 318.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,007,719 shares of the financial services provider’s stock after buying an additional 2,288,397 shares during the period. AON comprises about 3.8% of Polen Capital Management LLC’s portfolio, making the stock its 10th biggest position. Polen Capital Management LLC owned 1.39% of AON worth $1,200,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of AON by 1.3% during the first quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider’s stock valued at $7,893,382,000 after acquiring an additional 258,699 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider’s stock valued at $1,210,864,000 after purchasing an additional 469,238 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in AON by 2.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider’s stock valued at $954,053,000 after purchasing an additional 61,350 shares during the period. Northern Trust Corp boosted its holdings in shares of AON by 9.3% in the fourth quarter. Northern Trust Corp now owns 2,158,943 shares of the financial services provider’s stock worth $775,406,000 after acquiring an additional 183,442 shares during the period. Finally, WCM Investment Management LLC boosted its stake in AON by 0.3% during the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock valued at $809,544,000 after buying an additional 6,038 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Price Performance

Shares of AON opened at $366.39 on Friday. The firm has a market cap of $79.00 billion, a PE ratio of 30.69, a P/E/G ratio of 2.17 and a beta of 0.83. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The firm has a fifty day simple moving average of $357.97 and a two-hundred day simple moving average of $370.69. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97.

AON (NYSE:AON) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 EPS. On average, equities analysts anticipate that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AON. Piper Sandler raised their price target on AON from $393.00 to $413.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Evercore ISI lifted their price objective on AON from $411.00 to $421.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and boosted their price target for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods dropped their price target on AON from $414.00 to $409.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $438.00 price target (up from $436.00) on shares of AON in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $409.21.

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.