Lord Abbett & CO. LLC Raises Stock Holdings in Aon plc $AON

Lord Abbett & CO. LLC raised its position in shares of Aon plc (NYSE:AON) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 272,046 shares of the financial services provider’s stock after purchasing an additional 22,878 shares during the period. Lord Abbett & CO. LLC owned 0.13% of AON worth $96,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Watch Advisors INC bought a new position in AON during the third quarter valued at $25,000. Eagle Bay Advisors LLC bought a new position in AON during the fourth quarter valued at $30,000. Strive Asset Management LLC bought a new position in AON during the third quarter valued at $35,000. Measured Wealth Private Client Group LLC bought a new position in AON during the third quarter valued at $37,000. Finally, Salomon & Ludwin LLC grew its holdings in AON by 39.3% during the fourth quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 33 shares during the period. 86.14% of the stock is owned by institutional investors.

AON Price Performance

AON stock 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 has a fifty day moving average price of $322.69 and a 200-day moving average price of $332.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $71.66 billion, a P/E ratio of 18.41, a PEG ratio of 1.76 and a beta of 0.71.

AON (NYSE:AON) last posted its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.97 billion. During the same quarter last year, the company earned $5.67 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that Aon plc will post 19.1 EPS for the current year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.82 per share. The ex-dividend date was Friday, May 1st. This is a boost from AON’s previous quarterly dividend of $0.75. This represents a $3.28 annualized dividend and a yield of 1.0%. AON’s dividend payout ratio (DPR) is presently 16.36%.

Analysts Set New Price Targets

Several brokerages have weighed in on AON. Piper Sandler increased their price objective on AON from $355.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. reduced their price objective on AON from $406.00 to $396.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods cut their price target on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Morgan Stanley cut their price target on AON from $380.00 to $370.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, AON currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.81.

AON Profile

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.