Elevation Point Wealth Partners LLC Acquires 8,924 Shares of Aon plc $AON

Elevation Point Wealth Partners LLC lifted its holdings in Aon plc (NYSE:AON) by 495.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,724 shares of the financial services provider’s stock after acquiring an additional 8,924 shares during the period. Elevation Point Wealth Partners LLC’s holdings in AON were worth $3,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new position in shares of AON in the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of AON in the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of AON in the 4th quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new position in AON during the 4th quarter valued at about $30,000. Finally, Strive Asset Management LLC bought a new position in shares of AON in the third quarter valued at approximately $35,000. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Price Performance

Shares of NYSE:AON opened at $356.89 on Friday. The company’s fifty day moving average price is $323.63 and its 200-day moving average price is $330.77. 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 firm has a market capitalization of $76.23 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.88 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 (EPS) for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the firm posted $5.67 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. This is an increase from AON’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, May 1st. AON’s dividend payout ratio is presently 18.00%.

Analyst Ratings Changes

AON has been the topic of several research analyst reports. TD Cowen reissued a “buy” rating on shares of AON in a research report on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Mizuho cut their price target on shares of AON from $394.00 to $389.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Keefe, Bruyette & Woods reduced their target price on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Barclays decreased their target price on AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $394.94.

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.