Thoroughbred Financial Services LLC Purchases Shares of 1,867 Aon plc (NYSE:AON)

Thoroughbred Financial Services LLC purchased a new stake in Aon plc (NYSE:AON) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,867 shares of the financial services provider’s stock, valued at approximately $548,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new stake in AON in the fourth quarter valued at $31,000. Y.D. More Investments Ltd acquired a new stake in AON in the second quarter valued at $31,000. Rise Advisors LLC acquired a new stake in AON in the first quarter valued at $37,000. Bruce G. Allen Investments LLC increased its position in shares of AON by 52.7% during the second 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 in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of AON during the first quarter worth about $55,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Price Performance

Shares of NYSE:AON opened at $350.69 on Tuesday. The business’s 50 day simple moving average is $326.56 and its 200-day simple moving average is $310.44. The firm has a market capitalization of $76.25 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42. Aon plc has a 12 month low of $268.06 and a 12 month 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 the consensus estimate of $3.08 by ($0.15). The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. AON’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned $2.76 EPS. As a group, equities analysts forecast that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.77%. AON’s dividend payout ratio is currently 21.16%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler lifted their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $335.00 price target on shares of AON in a report on Monday, August 5th. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price target on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft raised 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 analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.