Dimensional Fund Advisors LP Raises Stock Position in Aon plc $AON

Dimensional Fund Advisors LP increased its position in shares of Aon plc (NYSE:AON) by 20.5% during the first quarter, HoldingsChannel.com reports. The fund owned 1,253,769 shares of the financial services provider’s stock after acquiring an additional 213,051 shares during the period. Dimensional Fund Advisors LP’s holdings in AON were worth $404,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in shares of AON during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of AON in the fourth quarter worth $27,000. Kemnay Advisory Services Inc. purchased a new stake in shares of AON in the fourth quarter worth $29,000. Eagle Bay Advisors LLC bought a new stake in AON during the fourth quarter valued at $30,000. Finally, Strive Asset Management LLC purchased a new position in AON during the third quarter worth about $35,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Price Performance

AON opened at $358.82 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $76.64 billion, a P/E ratio of 19.69, a PEG ratio of 1.90 and a beta of 0.71. The stock has a 50-day moving average price of $334.06 and a 200-day moving average price of $331.10. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.AON’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $5.67 EPS. Equities analysts predict that Aon plc will post 19.09 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, August 14th. Stockholders of record on Monday, August 3rd will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s payout ratio is presently 18.00%.

Insider Activity

In related news, General Counsel Darren Zeidel sold 600 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total transaction of $216,000.00. Following the transaction, the general counsel owned 15,354 shares of the company’s stock, valued at approximately $5,527,440. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AON. JPMorgan Chase & Co. raised their price target on AON from $396.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Mizuho boosted their price objective on AON from $389.00 to $426.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. UBS Group raised their target price on shares of AON from $360.00 to $383.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of AON in a research report on Friday. Finally, Keefe, Bruyette & Woods cut their price target on shares of AON from $404.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AON presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.56.

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.