Coronation Fund Managers Ltd. Buys Shares of 9,579 Aon plc (NYSE:AON)

Coronation Fund Managers Ltd. purchased a new position in Aon plc (NYSE:AON) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,579 shares of the financial services provider’s stock, valued at approximately $2,812,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in AON during the fourth quarter valued at about $157,650,000. Cerity Partners LLC boosted its position in AON by 177.4% during the 4th quarter. Cerity Partners LLC now owns 18,461 shares of the financial services provider’s stock worth $5,372,000 after acquiring an additional 11,806 shares during the period. SVB Wealth LLC grew its stake in AON by 14.0% during the 4th quarter. SVB Wealth LLC now owns 2,559 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 314 shares in the last quarter. Everence Capital Management Inc. increased its holdings in shares of AON by 23.5% in the 4th quarter. Everence Capital Management Inc. now owns 6,840 shares of the financial services provider’s stock valued at $1,991,000 after purchasing an additional 1,300 shares during the period. Finally, West Paces Advisors Inc. lifted its position in shares of AON by 11.8% in the fourth quarter. West Paces Advisors Inc. now owns 426 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 45 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

AON Price Performance

AON stock traded up $0.59 during midday trading on Friday, reaching $332.05. The company’s stock had a trading volume of 620,604 shares, compared to its average volume of 1,285,403. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. The stock has a market cap of $72.13 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.91. Aon plc has a 52 week low of $268.06 and a 52 week high of $344.68. The business has a 50-day moving average price of $306.08 and a 200-day moving average price of $305.28.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.76 EPS. On average, sell-side analysts predict that Aon plc will post 15.25 EPS for the current year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio (DPR) is presently 21.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AON shares. Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $313.00 to $380.00 in a research note on Tuesday, July 30th. Citigroup began coverage on AON in a report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price target for the company. Bank of America lowered shares of AON from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Piper Sandler increased their price target on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $335.00 target price on shares of AON in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $330.21.

AON Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.