Bank of New York Mellon Corp Increases Stock Holdings in Aon plc $AON

Bank of New York Mellon Corp boosted its position in shares of Aon plc (NYSE:AON) by 5.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,715,346 shares of the financial services provider’s stock after acquiring an additional 207,690 shares during the period. Bank of New York Mellon Corp owned 1.72% of AON worth $1,324,818,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Heartwood Wealth Advisors LLC purchased a new stake in shares of AON in the third quarter worth $29,000. Atlantic Union Bankshares Corp purchased a new stake in shares of AON in the 2nd quarter valued at about $31,000. Salomon & Ludwin LLC bought a new stake in shares of AON during the 3rd quarter valued at about $31,000. Trust Co. of Toledo NA OH purchased a new position in shares of AON during the second quarter worth about $32,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of AON in the second quarter worth approximately $37,000. 86.14% of the stock is owned by institutional investors.

AON Stock Down 2.5%

Shares of NYSE:AON opened at $330.27 on Wednesday. The stock has a market capitalization of $70.99 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 1.73 and a beta of 0.84. The stock’s 50-day moving average price is $348.10 and its 200-day moving average price is $354.01. 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 12-month low of $323.73 and a 12-month high of $412.97.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.14. AON had a return on equity of 48.88% and a net margin of 15.96%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company earned $2.72 EPS. AON’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be given a dividend of $0.745 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.98 annualized dividend and a yield of 0.9%. AON’s dividend payout ratio is presently 23.88%.

Analysts Set New Price Targets

A number of research firms have commented on AON. Citigroup raised shares of AON from a “neutral” rating to a “buy” rating and set a $402.00 price target for the company in a research note on Monday, November 3rd. Cantor Fitzgerald reduced their target price on AON from $450.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. JPMorgan Chase & Co. dropped their price target on AON from $433.00 to $406.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. UBS Group reduced their price objective on AON from $400.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Finally, Morgan Stanley set a $400.00 target price on AON in a research report on Tuesday, December 16th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.47.

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.