a16z Perennial Management L.P. Makes New Investment in Aon plc $AON

a16z Perennial Management L.P. bought a new stake in shares of Aon plc (NYSE:AON) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,304 shares of the financial services provider’s stock, valued at approximately $822,000.

Several other large investors also recently added to or reduced their stakes in AON. Ameritas Advisory Services LLC purchased a new position in shares of AON in the 2nd quarter worth approximately $98,000. Maryland State Retirement & Pension System lifted its position in AON by 11.2% in the second quarter. Maryland State Retirement & Pension System now owns 10,205 shares of the financial services provider’s stock worth $3,641,000 after buying an additional 1,026 shares during the last quarter. Tectonic Advisors LLC increased its position in AON by 3.9% during the second quarter. Tectonic Advisors LLC now owns 3,064 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 115 shares during the last quarter. Callan Family Office LLC raised its stake in shares of AON by 165.6% in the second quarter. Callan Family Office LLC now owns 3,641 shares of the financial services provider’s stock valued at $1,299,000 after acquiring an additional 2,270 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of AON by 2.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,060 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 52 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

AON Stock Down 0.3%

NYSE:AON opened at $342.21 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 1.35. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The company has a 50-day moving average of $347.41 and a 200 day moving average of $353.46. The firm has a market cap of $73.55 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.76 and a beta of 0.83.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.75 by $0.10. AON had a net margin of 21.51% and a return on equity of 45.23%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the business posted $4.42 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently announced 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. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, February 2nd. AON’s dividend payout ratio (DPR) is 17.51%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AON. Wells Fargo & Company reduced their price objective on shares of AON from $448.00 to $443.00 and set an “overweight” rating on the stock in a research report on Sunday, February 1st. JPMorgan Chase & Co. reduced their price target on AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Jefferies Financial Group restated a “buy” rating and set a $408.00 price objective on shares of AON in a report on Monday. Citigroup increased their target price on AON from $402.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Mizuho set a $398.00 target price on shares of AON in a research note on Tuesday. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $409.75.

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.