Bank of New York Mellon Corp Acquires 207,690 Shares of Aon plc $AON

Bank of New York Mellon Corp grew its holdings in Aon plc (NYSE:AON) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,715,346 shares of the financial services provider’s stock after buying an additional 207,690 shares during the quarter. Bank of New York Mellon Corp’s holdings in AON were worth $1,324,818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Heartwood Wealth Advisors LLC purchased a new stake in AON in the third quarter worth $29,000. Atlantic Union Bankshares Corp purchased a new stake in shares of AON in the 2nd quarter worth about $31,000. Salomon & Ludwin LLC bought a new stake in shares of AON during the 3rd quarter valued at about $31,000. Trust Co. of Toledo NA OH bought a new position in AON in the second quarter worth about $32,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in AON in the second quarter worth about $37,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Cantor Fitzgerald reduced their target price on AON from $450.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Morgan Stanley set a $400.00 price objective on AON in a report on Tuesday, December 16th. Roth Mkm restated a “buy” rating and set a $390.00 target price on shares of AON in a report on Tuesday, November 4th. Mizuho set a $387.00 price target on shares of AON in a research note on Wednesday, January 14th. Finally, TD Cowen lowered their price target on shares of AON from $419.00 to $416.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $408.47.

AON Price Performance

AON opened at $330.27 on Wednesday. The firm has a market cap of $70.99 billion, a PE ratio of 26.46, a P/E/G ratio of 1.73 and a beta of 0.84. The stock has a 50-day moving average price of $348.10 and a 200-day moving average price of $354.01. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.35 and a quick ratio of 1.35.

AON (NYSE:AON) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.97 billion. AON had a net margin of 15.96% and a return on equity of 48.88%. AON’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $2.72 EPS. Sell-side analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be given a $0.745 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.98 annualized dividend and a yield of 0.9%. AON’s dividend payout ratio is 23.88%.

About AON

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.