AMF Tjanstepension AB Increases Stock Position in Aon plc $AON

AMF Tjanstepension AB grew its position in shares of Aon plc (NYSE:AON) by 124.6% in the second quarter, HoldingsChannel reports. The firm owned 126,792 shares of the financial services provider’s stock after buying an additional 70,333 shares during the quarter. AMF Tjanstepension AB’s holdings in AON were worth $45,265,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new position in AON during the 1st quarter valued at approximately $28,000. Saudi Central Bank purchased a new position in shares of AON in the first quarter valued at $31,000. HHM Wealth Advisors LLC increased its position in AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 29 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 33 shares in the last quarter. Finally, Tsfg LLC bought a new position in AON during the first quarter valued at $37,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of AON from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $430.00 in a report on Thursday, September 11th. Piper Sandler boosted their price objective on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Cantor Fitzgerald raised AON to a “strong-buy” rating in a research note on Wednesday, August 13th. TD Cowen cut their target price on AON from $427.00 to $419.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $438.00 price target (up from $436.00) on shares of AON in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $415.06.

AON Trading Up 0.9%

AON opened at $364.06 on Friday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s 50 day moving average price is $363.77 and its 200-day moving average price is $364.00. Aon plc has a one year low of $323.73 and a one year high of $412.97. The stock has a market cap of $78.50 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 2.14 and a beta of 0.89.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.09. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.AON’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $2.93 EPS. On average, equities analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.745 dividend. The ex-dividend date was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON’s dividend payout ratio is presently 24.96%.

AON 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.