Gateway Investment Advisers LLC Raises Stock Position in Aon plc (NYSE:AON)

Gateway Investment Advisers LLC grew its position in Aon plc (NYSE:AON) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,632 shares of the financial services provider’s stock after buying an additional 108 shares during the period. Gateway Investment Advisers LLC’s holdings in AON were worth $37,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new position in AON in the fourth quarter worth approximately $32,000. Centricity Wealth Management LLC acquired a new position in shares of AON in the 4th quarter valued at $39,000. Kestra Investment Management LLC purchased a new position in shares of AON during the 4th quarter worth $39,000. Nemes Rush Group LLC acquired a new stake in shares of AON during the 4th quarter worth about $55,000. Finally, Orion Capital Management LLC purchased a new stake in AON in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Stock Up 0.2%

Shares of NYSE AON opened at $371.31 on Friday. The stock has a market cap of $80.18 billion, a P/E ratio of 29.33, a PEG ratio of 2.12 and a beta of 0.86. The business’s fifty day simple moving average is $364.26 and its 200-day simple moving average is $373.94. Aon plc has a 12-month low of $282.98 and a 12-month high of $412.97. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.58.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, April 25th. The financial services provider reported $5.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.04 by ($0.37). AON had a net margin of 16.91% and a return on equity of 70.84%. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the business earned $5.66 EPS. AON’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, equities analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $0.745 dividend. The ex-dividend date was Thursday, May 1st. This represents a $2.98 dividend on an annualized basis and a yield of 0.80%. This is an increase from AON’s previous quarterly dividend of $0.68. AON’s payout ratio is currently 25.38%.

Analyst Ratings Changes

AON has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of AON from $414.00 to $409.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Redburn Partners set a $445.00 price objective on shares of AON in a report on Tuesday, March 25th. Jefferies Financial Group increased their price objective on shares of AON from $396.00 to $416.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Piper Sandler raised AON from a “neutral” rating to an “overweight” rating and cut their target price for the company from $384.00 to $378.00 in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. upped their price target on AON from $394.00 to $409.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $397.27.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.