Aon plc (NYSE:AON) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its holdings in shares of Aon plc (NYSE:AON) by 85.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,025 shares of the financial services provider’s stock after buying an additional 935 shares during the period. Lake Street Advisors Group LLC’s holdings in AON were worth $676,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of AON by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock valued at $5,894,053,000 after acquiring an additional 64,500 shares during the period. Capital International Investors lifted its position in shares of AON by 0.4% during the 4th quarter. Capital International Investors now owns 5,524,730 shares of the financial services provider’s stock valued at $1,607,519,000 after acquiring an additional 22,346 shares during the period. Sustainable Growth Advisers LP lifted its position in shares of AON by 4.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 2,805,199 shares of the financial services provider’s stock valued at $936,151,000 after acquiring an additional 127,173 shares during the period. Mackenzie Financial Corp lifted its position in shares of AON by 8.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,331,132 shares of the financial services provider’s stock valued at $678,406,000 after acquiring an additional 179,238 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AON by 32.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock valued at $648,663,000 after acquiring an additional 471,424 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Stock Performance

Shares of NYSE:AON traded up $4.13 during midday trading on Thursday, hitting $302.33. 260,779 shares of the company’s stock traded hands, compared to its average volume of 1,268,141. The company has a market cap of $65.74 billion, a PE ratio of 23.37, a P/E/G ratio of 1.99 and a beta of 0.91. The firm’s fifty day moving average price is $291.85 and its two-hundred day moving average price is $302.43. Aon plc has a twelve month low of $268.06 and a twelve month high of $344.68.

AON (NYSE:AON) last posted its earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing the consensus estimate of $5.86 by ($0.20). The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.17 EPS. As a group, equities research analysts anticipate that Aon plc will post 15.41 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.89%. AON’s dividend payout ratio is presently 21.16%.

Insider Activity

In other AON news, Director Lester B. Knight bought 10,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $276.61 per share, for a total transaction of $2,766,100.00. Following the completion of the purchase, the director now directly owns 139,000 shares of the company’s stock, valued at $38,448,790. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AON shares. Citigroup started coverage on shares of AON in a research note on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price objective for the company. Piper Sandler dropped their price objective on shares of AON from $326.00 to $312.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Bank of America cut shares of AON from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, AON has an average rating of “Hold” and a consensus price target of $321.36.

About AON

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.