Arrowstreet Capital Limited Partnership Acquires 61,924 Shares of Aon plc $AON

Arrowstreet Capital Limited Partnership grew its stake in Aon plc (NYSE:AON) by 368.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,753 shares of the financial services provider’s stock after purchasing an additional 61,924 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in AON were worth $28,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peak Financial Advisors LLC bought a new stake in shares of AON in the 2nd quarter worth about $2,464,000. Nordea Investment Management AB boosted its position in AON by 6.6% in the second quarter. Nordea Investment Management AB now owns 17,062 shares of the financial services provider’s stock valued at $6,051,000 after buying an additional 1,061 shares in the last quarter. Focus Partners Wealth grew its stake in AON by 27.7% during the first quarter. Focus Partners Wealth now owns 125,834 shares of the financial services provider’s stock worth $50,219,000 after buying an additional 27,280 shares during the last quarter. Jump Financial LLC increased its holdings in shares of AON by 314.2% during the first quarter. Jump Financial LLC now owns 8,809 shares of the financial services provider’s stock worth $3,516,000 after buying an additional 6,682 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in shares of AON in the first quarter valued at approximately $635,000. Institutional investors own 86.14% of the company’s stock.

AON Stock Performance

Shares of NYSE:AON opened at $344.66 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.86. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The stock has a market capitalization of $74.08 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.97 and a beta of 0.84. The business has a 50-day moving average price of $348.52 and a two-hundred day moving average price of $356.69.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.91 by $0.14. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.97 billion. AON had a net margin of 15.96% and a return on equity of 48.88%. AON’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.72 EPS. Equities analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were given a dividend of $0.745 per share. The ex-dividend date was Monday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s payout ratio is presently 23.88%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AON. Evercore ISI increased their price target on AON from $427.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. decreased their target price on AON from $436.00 to $433.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Keefe, Bruyette & Woods lowered their target price on AON from $428.00 to $410.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AON in a research report on Monday, December 1st. Finally, Wolfe Research initiated coverage on shares of AON in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $416.56.

AON Company Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.