K.J. Harrison & Partners Inc Purchases New Position in Aon plc $AON

K.J. Harrison & Partners Inc purchased a new position in shares of Aon plc (NYSE:AON) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,000 shares of the financial services provider’s stock, valued at approximately $1,937,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AON. NewEdge Advisors LLC raised its position in AON by 28.4% during the second quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after acquiring an additional 3,253 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of AON by 9.1% during the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after purchasing an additional 8,216 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of AON by 35.2% during the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after purchasing an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC raised its position in shares of AON by 27.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock worth $995,000 after purchasing an additional 583 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in AON by 46.1% in the 2nd quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after buying an additional 12,631 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on AON shares. Morgan Stanley cut their price objective on AON from $380.00 to $370.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. JPMorgan Chase & Co. lowered their price target on AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Wells Fargo & Company dropped their price target on AON from $443.00 to $402.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. TD Cowen restated a “buy” rating on shares of AON in a report on Monday, March 16th. Finally, Barclays lowered their target price on shares of AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $394.94.

AON Trading Down 0.2%

AON opened at $356.89 on Friday. The firm has a market capitalization of $76.23 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.88 and a beta of 0.71. The company’s 50 day simple moving average is $323.63 and its two-hundred day simple moving average is $330.77. Aon plc has a 1-year low of $304.59 and a 1-year high of $381.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON) last posted its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter last year, the firm earned $5.67 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts expect that Aon plc will post 19.09 EPS for the current fiscal year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.82 per share. The ex-dividend date was Friday, May 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. This is a boost from AON’s previous quarterly dividend of $0.74. AON’s payout ratio is presently 18.00%.

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.