Quarry LP Acquires Shares of 344 Aon plc (NYSE:AON)

Quarry LP bought a new position in Aon plc (NYSE:AON) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 344 shares of the financial services provider’s stock, valued at approximately $101,000.

Several other hedge funds and other institutional investors have also modified their holdings of AON. Radnor Capital Management LLC lifted its holdings in shares of AON by 203.6% during the first quarter. Radnor Capital Management LLC now owns 6,290 shares of the financial services provider’s stock valued at $2,099,000 after acquiring an additional 4,218 shares during the period. Y.D. More Investments Ltd acquired a new position in AON in the second quarter valued at about $31,000. Norden Group LLC bought a new stake in AON during the first quarter worth about $2,044,000. Daiwa Securities Group Inc. increased its holdings in shares of AON by 14.2% during the first quarter. Daiwa Securities Group Inc. now owns 21,145 shares of the financial services provider’s stock worth $7,056,000 after buying an additional 2,624 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of AON in the fourth quarter valued at approximately $1,177,000. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

AON has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $335.00 price target on shares of AON in a report on Monday, August 5th. Piper Sandler increased their price objective on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $313.00 to $380.00 in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, AON has an average rating of “Hold” and an average price target of $337.27.

AON Price Performance

AON opened at $348.51 on Wednesday. The company has a fifty day simple moving average of $337.61 and a 200 day simple moving average of $312.77. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. The stock has a market cap of $75.71 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.24 and a beta of 0.92. Aon plc has a 12 month low of $268.06 and a 12 month high of $353.54.

AON (NYSE:AON) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the firm earned $2.76 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, research analysts expect that Aon plc will post 15.23 EPS for the current year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio is 21.16%.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.