Geode Capital Management LLC Increases Holdings in Aon plc $AON

Geode Capital Management LLC increased its holdings in shares of Aon plc (NYSE:AON) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,141,363 shares of the financial services provider’s stock after purchasing an additional 28,066 shares during the period. Geode Capital Management LLC’s holdings in AON were worth $1,810,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AON. Westside Investment Management Inc. boosted its position in AON by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Wealth Watch Advisors INC acquired a new position in AON in the 3rd quarter worth $25,000. Eagle Bay Advisors LLC acquired a new position in AON in the 4th quarter worth $30,000. Strive Asset Management LLC acquired a new position in AON in the 3rd quarter worth $35,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in AON in the 3rd quarter worth $37,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on AON. UBS Group reiterated a “neutral” rating and issued a $385.00 price objective on shares of AON in a report on Monday, February 2nd. Citigroup boosted their price objective on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen reiterated a “buy” rating on shares of AON in a report on Monday, March 16th. Cantor Fitzgerald boosted their price objective on shares of AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Wells Fargo & Company cut their price objective on shares of AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $396.81.

AON Stock Performance

Shares of AON stock opened at $318.36 on Friday. The firm has a market cap of $67.99 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The firm’s 50-day simple moving average is $321.76 and its 200-day simple moving average is $334.28. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00.

AON (NYSE:AON) last issued its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.67 EPS. Equities analysts forecast that Aon plc will post 19.1 earnings per share for the current fiscal year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.82 dividend. This is a boost from AON’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. AON’s dividend payout ratio (DPR) is currently 16.36%.

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.