Kornitzer Capital Management Inc. KS Buys 122 Shares of Aon plc (NYSE:AON)

Kornitzer Capital Management Inc. KS boosted its holdings in Aon plc (NYSE:AON) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,689 shares of the financial services provider’s stock after acquiring an additional 122 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in AON were worth $13,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new position in AON in the fourth quarter valued at about $31,000. Rise Advisors LLC acquired a new position in shares of AON during the first quarter worth approximately $37,000. First United Bank & Trust acquired a new position in shares of AON during the fourth quarter worth approximately $44,000. LRI Investments LLC acquired a new position in shares of AON during the first quarter worth approximately $55,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of AON by 52.7% during the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AON. Wells Fargo & Company upped their target price on shares of AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Barclays initiated coverage on shares of AON in a research note on Wednesday. They issued an “overweight” rating and a $394.00 target price for the company. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Piper Sandler increased their price objective on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AON has an average rating of “Hold” and a consensus price target of $337.27.

AON Price Performance

AON stock traded down $0.86 during mid-day trading on Thursday, hitting $347.69. The stock had a trading volume of 226,476 shares, compared to its average volume of 1,242,269. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. Aon plc has a 52 week low of $268.06 and a 52 week high of $349.87. The firm has a market capitalization of $75.53 billion, a P/E ratio of 27.29, a P/E/G ratio of 2.22 and a beta of 0.92. The firm has a fifty day simple moving average of $317.94 and a 200 day simple moving average of $308.56.

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). AON had a net margin of 18.00% and a return on equity of 252.81%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the business earned $2.76 earnings per share. AON’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, research analysts forecast that Aon plc will post 15.23 EPS for the current year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio (DPR) is presently 21.16%.

AON Profile

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.