ProVise Management Group LLC Makes New $1.50 Million Investment in Aon plc (NYSE:AON)

ProVise Management Group LLC acquired a new stake in shares of Aon plc (NYSE:AON) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,107 shares of the financial services provider’s stock, valued at approximately $1,499,000.

Other large investors have also recently modified their holdings of the company. Frazier Financial Advisors LLC bought a new position in AON during the 4th quarter worth approximately $31,000. Y.D. More Investments Ltd bought a new position in shares of AON in the second quarter worth approximately $31,000. Rise Advisors LLC purchased a new position in shares of AON in the first quarter worth $37,000. Bruce G. Allen Investments LLC raised its holdings in AON by 52.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after buying an additional 58 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in AON in the 1st quarter worth $55,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Price Performance

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 company has a market capitalization of $75.38 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.26 and a beta of 0.92. The stock has a 50-day moving average of $329.77 and a 200 day moving average of $311.20. Aon plc has a one year low of $268.06 and a one year high of $353.54.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.76 earnings per share. On average, sell-side analysts forecast that Aon plc will post 15.23 EPS for the current year.

AON Announces Dividend

The company 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. The ex-dividend date was Thursday, August 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.78%. AON’s payout ratio is 21.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 price objective on shares of AON in a research note on Monday, August 5th. Piper Sandler raised 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. Morgan Stanley cut their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Barclays assumed coverage on shares of AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Finally, Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $313.00 to $380.00 in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $337.27.

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.