Arjuna Capital Takes Position in Aon plc $AON

Arjuna Capital acquired a new position in shares of Aon plc (NYSE:AON) in the second quarter, HoldingsChannel reports. The fund acquired 1,294 shares of the financial services provider’s stock, valued at approximately $462,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of AON by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock worth $7,238,569,000 after buying an additional 511,292 shares during the period. Geode Capital Management LLC grew its holdings in AON by 3.2% during the second quarter. Geode Capital Management LLC now owns 5,588,279 shares of the financial services provider’s stock valued at $1,987,961,000 after purchasing an additional 173,722 shares during the period. Bank of New York Mellon Corp increased its stake in AON by 15.6% in the second quarter. Bank of New York Mellon Corp now owns 3,507,656 shares of the financial services provider’s stock valued at $1,251,391,000 after purchasing an additional 473,594 shares in the last quarter. Polen Capital Management LLC raised its holdings in AON by 318.1% in the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock worth $1,200,350,000 after purchasing an additional 2,288,397 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AON by 13.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,706,904 shares of the financial services provider’s stock worth $965,715,000 after purchasing an additional 316,333 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley upgraded shares of AON from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $430.00 in a research report on Thursday, September 11th. Wells Fargo & Company lowered their price target on AON from $451.00 to $448.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. TD Cowen dropped their price target on AON from $419.00 to $416.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Citigroup upgraded AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective for the company in a research report on Monday, November 3rd. Finally, Cantor Fitzgerald raised AON to a “strong-buy” rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AON has a consensus rating of “Moderate Buy” and an average price target of $416.56.

AON Stock Performance

Shares of AON stock opened at $351.37 on Tuesday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market cap of $75.52 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. The stock’s 50-day moving average is $349.16 and its 200-day moving average is $357.13. Aon plc has a one year low of $323.73 and a one year high of $412.97.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.97 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.AON’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $2.72 earnings per share. Equities analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $0.745 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON’s dividend payout ratio (DPR) is 23.88%.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.