Employees Retirement System of Texas Boosts Holdings in Aon plc $AON

Employees Retirement System of Texas grew its position in Aon plc (NYSE:AON) by 88.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,174 shares of the financial services provider’s stock after purchasing an additional 9,448 shares during the quarter. Employees Retirement System of Texas’ holdings in AON were worth $7,197,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AON. Saudi Central Bank acquired a new position in AON during the 1st quarter valued at about $31,000. Atlantic Union Bankshares Corp acquired a new position in shares of AON during the second quarter valued at about $31,000. Pinnacle Bancorp Inc. raised its position in shares of AON by 56.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 33 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in AON in the 2nd quarter worth approximately $32,000. Finally, HHM Wealth Advisors LLC grew its position in AON by 54.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen decreased their price target on shares of AON from $419.00 to $416.00 and set a “buy” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. reduced their target price on AON from $436.00 to $433.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Evercore ISI lifted their price target on AON from $427.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Wells Fargo & Company cut their price objective on AON from $451.00 to $448.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Finally, Morgan Stanley raised AON from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $385.00 to $430.00 in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, AON presently has a consensus rating of “Moderate Buy” and an average target price of $416.56.

AON Stock Performance

NYSE AON opened at $353.09 on Thursday. The firm has a market capitalization of $75.89 billion, a P/E ratio of 29.57, a PEG ratio of 1.92 and a beta of 0.86. The stock has a 50-day simple moving average of $349.13 and a two-hundred day simple moving average of $357.16. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. Aon plc has a fifty-two week low of $323.73 and a fifty-two week high of $412.97.

AON (NYSE:AON) last posted its earnings results on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.91 by $0.14. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company earned $2.72 earnings per share. AON’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a dividend of $0.745 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. AON’s dividend payout ratio is 23.88%.

AON Profile

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.