Fifth Third Wealth Advisors LLC Acquires New Position in Aon plc (NYSE:AON)

Fifth Third Wealth Advisors LLC bought a new position in Aon plc (NYSE:AON) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,865 shares of the financial services provider’s stock, valued at approximately $548,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in shares of AON during the 4th quarter worth approximately $31,000. Rise Advisors LLC acquired a new position in AON in the first quarter valued at about $37,000. First United Bank & Trust acquired a new stake in shares of AON during the fourth quarter worth approximately $44,000. Bruce G. Allen Investments LLC boosted its holdings in shares of AON by 52.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 58 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in AON in the first quarter worth $55,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Performance

AON stock traded up $0.09 during trading hours on Thursday, hitting $338.16. 28,589 shares of the stock were exchanged, compared to its average volume of 1,268,782. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. The company has a 50-day simple moving average of $308.75 and a two-hundred day simple moving average of $306.15. Aon plc has a 12 month low of $268.06 and a 12 month high of $344.68. The firm has a market capitalization of $73.46 billion, a P/E ratio of 26.51, a P/E/G ratio of 2.14 and a beta of 0.91.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $3.74 billion. During the same period in the prior year, the firm earned $2.76 EPS. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, analysts forecast that Aon plc will post 15.25 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Thursday, August 1st. AON’s payout ratio is presently 21.16%.

Wall Street Analyst Weigh In

AON has been the topic of several research reports. JPMorgan Chase & Co. upped their price target 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. Piper Sandler boosted their price objective on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $335.00 price target on shares of AON in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $330.21.

AON 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.