Ironvine Capital Partners LLC Boosts Position in Aon plc $AON

Ironvine Capital Partners LLC increased its holdings in shares of Aon plc (NYSE:AON) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,680 shares of the financial services provider’s stock after purchasing an additional 2,305 shares during the quarter. AON accounts for approximately 3.8% of Ironvine Capital Partners LLC’s portfolio, making the stock its 12th biggest position. Ironvine Capital Partners LLC’s holdings in AON were worth $37,998,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AON. NewEdge Advisors LLC increased its position in shares of AON by 28.4% during the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after purchasing an additional 3,253 shares during the last quarter. Treasurer of the State of North Carolina grew its position in AON by 9.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock valued at $34,992,000 after acquiring an additional 8,216 shares in the last quarter. Alliancebernstein L.P. grew its position in AON by 35.2% in the 2nd quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock valued at $104,249,000 after acquiring an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC grew its position in AON by 27.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock valued at $995,000 after acquiring an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in AON by 46.1% in the 2nd quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after acquiring an additional 12,631 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AON has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on AON from $406.00 to $396.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Piper Sandler boosted their price objective on AON from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Mizuho reduced their price objective on AON from $394.00 to $389.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Citigroup increased their price objective on AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Barclays lowered their target price on AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, AON has an average rating of “Moderate Buy” and a consensus price target of $396.81.

AON Stock Performance

Shares of NYSE AON opened at $335.51 on Friday. Aon plc has a one year low of $304.59 and a one year high of $381.00. The business’s 50-day moving average price is $322.69 and its two-hundred day moving average price is $332.68. The company has a market capitalization of $71.66 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.76 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON) last announced its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the firm earned $5.67 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Aon plc will post 19.1 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.82 per share. This is a boost from AON’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. AON’s dividend payout ratio is currently 16.36%.

About AON

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.