Edge Capital Group LLC Makes New Investment in Aon plc (NYSE:AON)

Edge Capital Group LLC purchased a new position in Aon plc (NYSE:AON) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,388 shares of the financial services provider’s stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AON. EverSource Wealth Advisors LLC boosted its holdings in shares of AON by 5.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 45 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in AON by 2.1% during the second quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock worth $707,390,000 after buying an additional 49,161 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in AON by 326.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 15,689 shares of the financial services provider’s stock valued at $4,606,000 after buying an additional 12,010 shares in the last quarter. Stone Point Capital LLC purchased a new position in shares of AON during the 2nd quarter worth $151,808,000. Finally, Frank Rimerman Advisors LLC boosted its position in shares of AON by 30,172.7% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,330 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 3,319 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Wells Fargo & Company lifted 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. Piper Sandler increased their price objective on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Two 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $337.27.

AON Stock Up 0.0 %

Shares of AON opened at $347.03 on Monday. 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 stock has a market capitalization of $75.46 billion, a PE ratio of 27.20, a P/E/G ratio of 2.26 and a beta of 0.92. The company’s 50-day simple moving average is $330.75 and its 200-day simple moving average is $311.36. Aon plc has a 1 year low of $268.06 and a 1 year high of $353.54.

AON (NYSE:AON) last issued its quarterly 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 business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the prior year, the business earned $2.76 EPS. The business’s quarterly revenue was up 18.4% on a year-over-year basis. Analysts forecast that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Dividend Announcement

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

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.