Summit Global Investments Has $786,000 Stake in Aon plc (NYSE:AON)

Summit Global Investments raised its position in Aon plc (NYSE:AON) by 260.2% during the second quarter, Holdings Channel reports. The firm owned 2,676 shares of the financial services provider’s stock after purchasing an additional 1,933 shares during the period. Summit Global Investments’ holdings in AON were worth $786,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of AON during the 4th quarter worth approximately $157,650,000. Federated Hermes Inc. raised its holdings in shares of AON by 194.8% during the fourth quarter. Federated Hermes Inc. now owns 49,237 shares of the financial services provider’s stock valued at $14,329,000 after purchasing an additional 32,537 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of AON by 7.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 906 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 63 shares in the last quarter. abrdn plc grew its stake in AON by 71.4% in the fourth quarter. abrdn plc now owns 90,818 shares of the financial services provider’s stock valued at $26,430,000 after acquiring an additional 37,825 shares during the period. Finally, Signaturefd LLC increased its stake in AON by 1.8% during the 4th quarter. Signaturefd LLC now owns 2,149 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 38 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Up 0.7 %

AON stock traded up $2.46 during trading hours on Tuesday, hitting $336.84. 944,372 shares of the stock traded hands, compared to its average volume of 1,280,922. Aon plc has a one year low of $268.06 and a one year high of $344.68. The firm’s 50-day moving average price is $307.90 and its two-hundred day moving average price is $305.93. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. The company has a market cap of $73.18 billion, a PE ratio of 26.40, a PEG ratio of 2.14 and a beta of 0.91.

AON (NYSE:AON) last released its earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.15). The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $2.76 earnings per share. On average, research analysts forecast that Aon plc will post 15.25 EPS for the current year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s payout ratio is presently 21.16%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AON. JPMorgan Chase & Co. raised their target price on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods raised AON from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $313.00 to $380.00 in a report on Tuesday, July 30th. Citigroup began coverage on shares of AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 target price for the company. Bank of America lowered shares of AON from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Finally, Piper Sandler lifted their price target on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $330.21.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.