Mattern Capital Management LLC Acquires 337 Shares of Aon plc (NYSE:AON)

Mattern Capital Management LLC raised its position in shares of Aon plc (NYSE:AON) by 15.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,478 shares of the financial services provider’s stock after purchasing an additional 337 shares during the quarter. Mattern Capital Management LLC’s holdings in AON were worth $727,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in AON by 0.4% in the first quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock worth $5,894,053,000 after purchasing an additional 64,500 shares during the period. Capital International Investors increased 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 purchasing an additional 22,346 shares during the last quarter. Sustainable Growth Advisers LP raised its position in AON by 4.7% in the first quarter. Sustainable Growth Advisers LP now owns 2,805,199 shares of the financial services provider’s stock worth $936,151,000 after acquiring an additional 127,173 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AON by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock worth $587,445,000 after purchasing an additional 548,563 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of AON by 32.0% in the first 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 buying an additional 471,424 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Morgan Stanley dropped their target price on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Piper Sandler upped their price target on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price objective on AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Finally, Barclays assumed coverage on AON in a research note on Wednesday. They issued an “overweight” rating and a $394.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $337.27.

AON Trading Up 0.6 %

AON stock opened at $348.26 on Thursday. The company has a market capitalization of $75.66 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.92. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. Aon plc has a 12 month low of $268.06 and a 12 month high of $349.87. The business’s fifty day simple moving average is $317.94 and its two-hundred day simple moving average is $308.56.

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

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 annualized dividend and a yield of 0.78%. AON’s dividend payout ratio (DPR) is presently 21.16%.

AON 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.