DNB Asset Management AS Boosts Stake in Aon plc $AON

DNB Asset Management AS raised its holdings in Aon plc (NYSE:AON) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,620 shares of the financial services provider’s stock after acquiring an additional 2,264 shares during the period. DNB Asset Management AS’s holdings in AON were worth $13,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AON. Vanguard Group Inc. raised its stake in AON by 2.6% in the second quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock valued at $7,238,569,000 after purchasing an additional 511,292 shares in the last quarter. Geode Capital Management LLC raised its position in shares of AON by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 5,588,279 shares of the financial services provider’s stock valued at $1,987,961,000 after buying an additional 173,722 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AON by 15.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,507,656 shares of the financial services provider’s stock worth $1,251,391,000 after acquiring an additional 473,594 shares during the last quarter. Polen Capital Management LLC grew its position in AON by 318.1% in the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock worth $1,200,350,000 after acquiring an additional 2,288,397 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in AON by 13.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,706,904 shares of the financial services provider’s stock valued at $965,715,000 after acquiring an additional 316,333 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AON. Citigroup upgraded AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective for the company in a report on Monday, November 3rd. Piper Sandler boosted their target price on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Evercore ISI lifted their price target on shares of AON from $427.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Morgan Stanley raised shares of AON from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $430.00 in a research note on Thursday, September 11th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of AON from $428.00 to $410.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $416.56.

AON Stock Performance

NYSE:AON opened at $346.58 on Friday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. Aon plc has a fifty-two week low of $323.73 and a fifty-two week high of $412.97. The business has a 50 day moving average price of $349.72 and a 200-day moving average price of $357.32. The firm has a market cap of $74.49 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86.

AON (NYSE:AON) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.97 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.72 EPS. Equities research analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a $0.745 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio (DPR) is presently 23.88%.

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.