Burkett Asset Management Ltd Purchases New Position in Aon plc $AON

Burkett Asset Management Ltd purchased a new stake in shares of Aon plc (NYSE:AON) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,359 shares of the financial services provider’s stock, valued at approximately $2,950,000. AON makes up approximately 3.0% of Burkett Asset Management Ltd’s holdings, making the stock its 12th biggest holding.

A number of other institutional investors also recently modified their holdings of the business. Xponance LLC lifted its stake in shares of AON by 7.9% during the 4th quarter. Xponance LLC now owns 54,582 shares of the financial services provider’s stock valued at $19,261,000 after buying an additional 4,019 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of AON during the 4th quarter valued at approximately $13,953,000. SmartHarvest Portfolios LLC purchased a new stake in shares of AON during the 4th quarter valued at approximately $287,000. Picton Mahoney Asset Management lifted its stake in shares of AON by 1.0% during the 4th quarter. Picton Mahoney Asset Management now owns 56,124 shares of the financial services provider’s stock valued at $19,805,000 after buying an additional 535 shares in the last quarter. Finally, Vestor Capital LLC lifted its stake in shares of AON by 1,228.7% during the 4th quarter. Vestor Capital LLC now owns 23,372 shares of the financial services provider’s stock valued at $8,248,000 after buying an additional 21,613 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Price Performance

AON stock opened at $335.08 on Friday. The firm has a 50 day simple moving average of $322.41 and a two-hundred day simple moving average of $332.66. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $71.57 billion, a PE ratio of 18.39, a P/E/G ratio of 1.77 and a beta of 0.71. Aon plc has a one year low of $304.59 and a one year high of $381.00.

AON (NYSE:AON) last posted its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.37 by $0.11. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $5.67 EPS. On average, analysts predict that Aon plc will post 19.1 EPS for the current fiscal year.

AON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.82 per share. This is an increase from AON’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 1st. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. AON’s dividend payout ratio is 16.36%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AON. Mizuho lowered their target price on shares of AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Bank of America upgraded shares of AON from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $398.00 to $397.00 in a research note on Friday, February 27th. Morgan Stanley lowered their target price on shares of AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Keefe, Bruyette & Woods lowered their target price on shares of AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.81.

AON 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.