Mediolanum International Funds Ltd Purchases 3,945 Shares of Aon plc $AON

Mediolanum International Funds Ltd lifted its holdings in Aon plc (NYSE:AON) by 16.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,645 shares of the financial services provider’s stock after acquiring an additional 3,945 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AON were worth $9,283,000 at the end of the most recent reporting period.

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

AON Price Performance

AON stock opened at $366.69 on Monday. The business’s 50-day simple moving average is $332.19 and its 200 day simple moving average is $331.02. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The stock has a market cap of $78.32 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.92 and a beta of 0.71. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00.

AON (NYSE:AON) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) 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 the consensus estimate of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.67 EPS. As a group, research analysts anticipate that Aon plc will post 19.09 earnings per share for the current year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 3rd. AON’s payout ratio is 18.00%.

Analysts Set New Price Targets

A number of equities research analysts have commented on AON shares. Morgan Stanley increased their price objective on shares of AON from $370.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Piper Sandler downgraded shares of AON from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $377.00 in a research note on Wednesday. UBS Group upped their target price on shares of AON from $360.00 to $383.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lowered their price target on shares of AON from $409.00 to $406.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of AON from $404.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.56.

Insiders Place Their Bets

In other AON news, General Counsel Darren Zeidel sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total value of $216,000.00. Following the transaction, the general counsel directly owned 15,354 shares of the company’s stock, valued at approximately $5,527,440. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.