Los Angeles Capital Management LLC Purchases 3,901 Shares of Aon plc (NYSE:AON)

Los Angeles Capital Management LLC boosted its position in Aon plc (NYSE:AON) by 26.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,615 shares of the financial services provider’s stock after purchasing an additional 3,901 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AON were worth $6,212,000 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. Ontario Teachers Pension Plan Board boosted its stake in AON by 35.3% during the third quarter. Ontario Teachers Pension Plan Board now owns 3,683 shares of the financial services provider’s stock worth $1,194,000 after acquiring an additional 960 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of AON by 1,555.1% in the 3rd quarter. Federated Hermes Inc. now owns 16,700 shares of the financial services provider’s stock worth $5,414,000 after purchasing an additional 15,691 shares in the last quarter. Northern Trust Corp grew its stake in shares of AON by 0.8% in the 3rd quarter. Northern Trust Corp now owns 2,244,909 shares of the financial services provider’s stock worth $727,844,000 after buying an additional 18,500 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in AON by 8.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,266 shares of the financial services provider’s stock valued at $3,004,000 after buying an additional 687 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in AON by 95.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,317 shares of the financial services provider’s stock worth $2,048,000 after acquiring an additional 3,091 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AON shares. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Piper Sandler dropped their target price on shares of AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $311.00 price target on shares of AON in a research report on Tuesday, May 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of AON in a research report on Tuesday. Finally, Citigroup assumed coverage on AON in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $321.86.

Insider Buying and Selling at AON

In related news, Director Lester B. Knight acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the purchase, the director now directly owns 139,000 shares of the company’s stock, valued at $38,448,790. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.15% of the stock is currently owned by corporate insiders.

AON Stock Down 0.4 %

AON stock opened at $296.59 on Friday. The business has a 50-day simple moving average of $291.18 and a two-hundred day simple moving average of $304.04. Aon plc has a 52-week low of $268.06 and a 52-week high of $347.37. The company has a market cap of $64.49 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.97 and a beta of 0.91.

AON (NYSE:AON) last announced its earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the firm posted $5.17 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that Aon plc will post 15.48 EPS for the current fiscal year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.675 per share. The ex-dividend date was Tuesday, April 30th. This is an increase from AON’s previous quarterly dividend of $0.62. This represents a $2.70 annualized dividend and a yield of 0.91%. AON’s payout ratio is 21.16%.

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.