Aon plc (NYSE:AON) Declares Quarterly Dividend of $0.56

Aon plc (NYSE:AONGet Rating) announced a quarterly dividend on Thursday, April 14th, RTT News reports. Investors of record on Monday, May 2nd will be paid a dividend of 0.56 per share by the financial services provider on Friday, May 13th. This represents a $2.24 dividend on an annualized basis and a yield of 0.68%. This is a positive change from AON’s previous quarterly dividend of $0.51.

AON has a dividend payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect AON to earn $14.51 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 14.1%.

Shares of NYSE AON opened at $328.26 on Friday. The company has a debt-to-equity ratio of 7.11, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $72.33 billion, a PE ratio of 58.93 and a beta of 0.91. The business has a 50-day simple moving average of $305.00 and a two-hundred day simple moving average of $297.59. AON has a fifty-two week low of $223.19 and a fifty-two week high of $336.41.

AON (NYSE:AONGet Rating) last announced its quarterly earnings data on Friday, February 4th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.31. AON had a return on equity of 87.65% and a net margin of 10.29%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business posted $2.62 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that AON will post 13.15 earnings per share for the current fiscal year.

In other AON news, insider Michael Neller sold 1,250 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $285.00, for a total transaction of $356,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christa Davies sold 32,942 shares of the business’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $282.51, for a total value of $9,306,444.42. The disclosure for this sale can be found here. Insiders sold 42,390 shares of company stock worth $11,982,022 over the last ninety days. Corporate insiders own 0.99% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Forum Financial Management LP purchased a new stake in AON in the fourth quarter valued at $316,000. NewEdge Advisors LLC raised its position in AON by 71.1% in the fourth quarter. NewEdge Advisors LLC now owns 6,332 shares of the financial services provider’s stock valued at $1,903,000 after purchasing an additional 2,631 shares during the period. Titleist Asset Management LTD. purchased a new stake in AON in the fourth quarter valued at $210,000. Toroso Investments LLC raised its holdings in shares of AON by 96.1% in the 4th quarter. Toroso Investments LLC now owns 7,527 shares of the financial services provider’s stock valued at $2,262,000 after buying an additional 3,689 shares during the period. Finally, Autumn Glory Partners LLC purchased a new stake in shares of AON in the 4th quarter valued at $338,000. 88.17% of the stock is currently owned by institutional investors.

AON declared that its Board of Directors has initiated a stock repurchase program on Friday, February 18th that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several research analysts have recently issued reports on the company. StockNews.com assumed coverage on AON in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company reduced their price target on AON from $326.00 to $321.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 4th. Zacks Investment Research upgraded AON from a “hold” rating to a “buy” rating and set a $350.00 price target for the company in a research report on Monday. Evercore ISI cut AON from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $288.00 to $292.00 in a research report on Thursday, January 6th. Finally, Piper Sandler reduced their price target on AON from $325.00 to $295.00 and set a “neutral” rating for the company in a research report on Monday, January 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, AON presently has an average rating of “Hold” and a consensus target price of $306.67.

About AON (Get Rating)

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captives management; and health solutions, such as health and benefits brokerages, and health care exchanges.

Read More

Dividend History for AON (NYSE:AON)

Receive News & Ratings for AON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AON and related companies with MarketBeat.com's FREE daily email newsletter.