Eastern Bank Makes New $43,000 Investment in Aon plc (NYSE:AON)

Eastern Bank acquired a new stake in Aon plc (NYSE:AON) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 124 shares of the financial services provider’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AON. Y.D. More Investments Ltd purchased a new stake in shares of AON in the second quarter valued at $31,000. Nemes Rush Group LLC acquired a new position in AON in the second quarter valued at $45,000. Bruce G. Allen Investments LLC boosted its holdings in AON by 52.7% in the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 58 shares during the last quarter. LRI Investments LLC acquired a new position in AON in the first quarter valued at $55,000. Finally, New Covenant Trust Company N.A. acquired a new position in AON in the first quarter valued at $59,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Trading Up 5.2 %

NYSE:AON opened at $375.44 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. Aon plc has a one year low of $268.06 and a one year high of $389.21. The business’s 50-day simple moving average is $349.01 and its 200 day simple moving average is $316.67. The stock has a market cap of $81.56 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 2.31 and a beta of 0.92.

AON (NYSE:AON) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.45 by $0.27. AON had a return on equity of 252.81% and a net margin of 18.00%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. As a group, sell-side analysts predict that Aon plc will post 15.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 1st. AON’s dividend payout ratio is currently 21.58%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AON. Evercore ISI lifted their target price on AON from $338.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their target price on AON from $344.00 to $365.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Piper Sandler lifted their target price on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Morgan Stanley reduced their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, TD Cowen boosted their price objective on AON from $413.00 to $432.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $349.69.

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.