Burkett Asset Management Ltd Takes Position in Aon plc $AON

Burkett Asset Management Ltd acquired a new stake in shares of Aon plc (NYSE:AON) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,359 shares of the financial services provider’s stock, valued at approximately $2,950,000. AON makes up approximately 3.0% of Burkett Asset Management Ltd’s holdings, making the stock its 12th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in AON. Wealth Watch Advisors INC bought a new position in shares of AON during the 3rd quarter valued at $25,000. Eagle Bay Advisors LLC bought a new position in shares of AON during the 4th quarter valued at $30,000. Strive Asset Management LLC bought a new position in shares of AON during the 3rd quarter valued at $35,000. Measured Wealth Private Client Group LLC bought a new position in shares of AON during the 3rd quarter valued at $37,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of AON by 39.3% during the 4th 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 last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

AON has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Barclays reduced their target price on shares of AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley reduced their target price on shares of AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Finally, Citigroup increased their target price on shares of AON from $412.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.81.

AON Price Performance

Shares of AON stock opened at $335.08 on Friday. The firm has a market cap of $71.57 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.71. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The company’s fifty day simple moving average is $322.41 and its two-hundred day simple moving average is $332.66.

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

AON Increases Dividend

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

AON Company 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.