Avanza Fonder AB Raises Stock Position in Aon plc $AON

Avanza Fonder AB lifted its holdings in shares of Aon plc (NYSE:AON) by 12.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,132 shares of the financial services provider’s stock after purchasing an additional 1,850 shares during the quarter. Avanza Fonder AB’s holdings in AON were worth $6,109,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in AON during the 2nd quarter worth approximately $754,671,000. Vanguard Group Inc. increased its stake in shares of AON by 2.6% during the second 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. Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 473,594 shares in the last quarter. Altrinsic Global Advisors LLC grew its holdings in AON by 193.2% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 692,633 shares of the financial services provider’s stock worth $247,104,000 after acquiring an additional 456,399 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of AON by 92.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 889,332 shares of the financial services provider’s stock valued at $317,118,000 after purchasing an additional 428,361 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Up 0.2%

NYSE AON opened at $356.65 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $76.65 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.04 and a beta of 0.84. Aon plc has a 52-week low of $323.73 and a 52-week high of $412.97. The firm has a 50-day moving average price of $346.29 and a 200 day moving average price of $355.31.

AON (NYSE:AON) last released its earnings results on Friday, October 31st. The financial services provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.14. AON had a return on equity of 48.88% and a net margin of 15.96%.The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the firm posted $2.72 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts expect that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on AON. Morgan Stanley set a $400.00 price target on AON in a report on Tuesday, December 16th. Citigroup raised AON from a “neutral” rating to a “buy” rating and set a $402.00 price target for the company in a report on Monday, November 3rd. Roth Capital reissued a “buy” rating and set a $390.00 price objective on shares of AON in a report on Tuesday, November 4th. Mizuho initiated coverage on AON in a research report on Monday, December 15th. They issued a “neutral” rating and a $389.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AON in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $413.18.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.