Morningstar Investment Management LLC Makes New Investment in Aon plc $AON

Morningstar Investment Management LLC acquired a new position in Aon plc (NYSE:AON) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,301 shares of the financial services provider’s stock, valued at approximately $1,178,000.

Several other institutional investors have also added to or reduced their stakes in AON. Farther Finance Advisors LLC raised its holdings in AON by 26.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,265 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 261 shares in the last quarter. GAMMA Investing LLC raised its holdings in AON by 41.7% in the 1st quarter. GAMMA Investing LLC now owns 1,909 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 562 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in AON by 61.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,308 shares of the financial services provider’s stock worth $18,082,000 after purchasing an additional 17,226 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of AON by 23.8% in the 1st quarter. Ritholtz Wealth Management now owns 2,188 shares of the financial services provider’s stock worth $873,000 after acquiring an additional 420 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of AON by 121.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 277 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 152 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

AON Stock Down 1.9%

AON stock opened at $353.44 on Tuesday. Aon plc has a twelve month low of $323.73 and a twelve month high of $412.97. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. The firm has a market cap of $76.21 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89. The business has a 50 day moving average of $364.27 and a 200 day moving average of $362.24.

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

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 3rd. AON’s dividend payout ratio (DPR) is 24.96%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wolfe Research assumed coverage on AON in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of AON in a research report on Wednesday, October 8th. Morgan Stanley raised AON from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $385.00 to $430.00 in a research report on Thursday, September 11th. Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and increased their target price for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Finally, Citigroup assumed coverage on AON in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $402.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, AON currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.00.

About AON

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.