Dimensional Fund Advisors LP Grows Stake in Aon plc (NYSE:AON)

Dimensional Fund Advisors LP grew its stake in Aon plc (NYSE:AON) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 655,944 shares of the financial services provider’s stock after purchasing an additional 46,560 shares during the period. Dimensional Fund Advisors LP owned approximately 0.30% of AON worth $192,568,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AON. Frazier Financial Advisors LLC purchased a new stake in shares of AON in the fourth quarter worth approximately $31,000. Y.D. More Investments Ltd bought a new position in AON during the 2nd quarter worth about $31,000. Rise Advisors LLC purchased a new position in AON during the 1st quarter valued at about $37,000. LRI Investments LLC bought a new stake in AON during the 1st quarter valued at $55,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of AON by 52.7% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Price Performance

Shares of NYSE AON opened at $346.97 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market cap of $75.38 billion, a PE ratio of 27.19, a PEG ratio of 2.26 and a beta of 0.92. Aon plc has a one year low of $268.06 and a one year high of $353.54. The firm has a fifty day moving average of $329.77 and a 200 day moving average of $311.20.

AON (NYSE:AON) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the company earned $2.76 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, research analysts predict that Aon plc will post 15.23 EPS for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given 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 payout ratio is 21.16%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AON. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $335.00 price target on shares of AON in a report on Monday, August 5th. Barclays assumed coverage on AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Piper Sandler increased their price objective on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Morgan Stanley cut their price target on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Two research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $337.27.

AON Company 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.