Auxier Asset Management Buys 1,025 Shares of Aon plc (NYSE:AON)

Auxier Asset Management raised its stake in shares of Aon plc (NYSE:AON) by 37.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,767 shares of the financial services provider’s stock after purchasing an additional 1,025 shares during the quarter. Auxier Asset Management’s holdings in AON were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AON. Meritage Group LP purchased a new position in shares of AON in the 1st quarter worth about $258,471,000. Farallon Capital Management LLC purchased a new stake in AON in the first quarter worth approximately $210,911,000. Bank of New York Mellon Corp raised its stake in shares of AON by 37.8% during the second quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock worth $587,445,000 after acquiring an additional 548,563 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of AON by 32.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock valued at $648,663,000 after purchasing an additional 471,424 shares in the last quarter. Finally, Fiducient Advisors LLC bought a new position in shares of AON during the 2nd quarter valued at $109,327,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Price Performance

Shares of AON stock opened at $347.03 on Friday. The business’s fifty day moving average is $330.75 and its 200 day moving average is $311.42. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. The stock has a market cap of $75.46 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.26 and a beta of 0.92. Aon plc has a twelve month low of $268.06 and a twelve month high of $353.54.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) 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 business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the business earned $2.76 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year. Research analysts expect that Aon plc will post 15.23 EPS for the current fiscal 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 given a $0.675 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.78%. AON’s dividend payout ratio is currently 21.16%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AON shares. Wells Fargo & Company upped their price target on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Piper Sandler upped their price target on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Barclays started coverage on shares of AON in a report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.