QRG Capital Management Inc. Buys 2,049 Shares of Aon plc $AON

QRG Capital Management Inc. boosted its stake in Aon plc (NYSE:AON) by 49.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,169 shares of the financial services provider’s stock after acquiring an additional 2,049 shares during the period. QRG Capital Management Inc.’s holdings in AON were worth $1,991,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC acquired a new position in shares of AON in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of AON during the fourth quarter worth $27,000. Kemnay Advisory Services Inc. bought a new position in AON during the fourth quarter worth $29,000. Eagle Bay Advisors LLC acquired a new position in AON in the fourth quarter valued at $30,000. Finally, Strive Asset Management LLC bought a new stake in AON during the third quarter valued at $35,000. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their target price on AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Barclays raised their price target on shares of AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a report on Tuesday. TD Cowen reiterated a “buy” rating on shares of AON in a report on Monday, March 16th. UBS Group cut their price objective on shares of AON from $385.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Finally, Morgan Stanley boosted their target price on AON from $370.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.19.

AON Stock Up 2.4%

AON stock traded up $8.56 during midday trading on Tuesday, reaching $365.48. 112,172 shares of the company’s stock traded hands, compared to its average volume of 1,512,446. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm’s fifty day moving average price is $323.63 and its 200-day moving average price is $330.61. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. The company has a market cap of $78.06 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.88 and a beta of 0.71.

AON (NYSE:AON) last issued its quarterly earnings data 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 firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $5.67 earnings per share. As a group, sell-side analysts forecast that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. This is an increase from AON’s previous quarterly dividend of $0.74. AON’s dividend 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.