Tower Bridge Advisors Buys 1,952 Shares of Aon plc (NYSE:AON)

Tower Bridge Advisors raised its stake in Aon plc (NYSE:AON) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,813 shares of the financial services provider’s stock after purchasing an additional 1,952 shares during the period. AON makes up approximately 1.0% of Tower Bridge Advisors’ holdings, making the stock its 29th biggest position. Tower Bridge Advisors’ holdings in AON were worth $13,533,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. raised its stake in shares of AON by 13.3% in the 1st quarter. MV Capital Management Inc. now owns 8,030 shares of the financial services provider’s stock valued at $1,848,000 after buying an additional 942 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of AON in the 1st quarter valued at $91,000. Norinchukin Bank The raised its stake in shares of AON by 3.4% in the 1st quarter. Norinchukin Bank The now owns 6,976 shares of the financial services provider’s stock valued at $1,605,000 after buying an additional 230 shares in the last quarter. Brinker Capital Investments LLC raised its stake in shares of AON by 4,036.1% in the 1st quarter. Brinker Capital Investments LLC now owns 52,032 shares of the financial services provider’s stock valued at $11,973,000 after buying an additional 50,774 shares in the last quarter. Finally, Polen Capital Management LLC raised its stake in shares of AON by 39.5% in the 1st quarter. Polen Capital Management LLC now owns 526,184 shares of the financial services provider’s stock valued at $121,080,000 after buying an additional 148,879 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on AON. Deutsche Bank Aktiengesellschaft increased their target price on shares of AON from $205.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, May 3rd. Wells Fargo & Company increased their target price on shares of AON from $275.00 to $287.00 and gave the stock an “overweight” rating in a research report on Monday, May 3rd. JPMorgan Chase & Co. increased their target price on shares of AON from $241.00 to $249.00 and gave the stock an “overweight” rating in a research report on Monday, May 3rd. Morgan Stanley increased their target price on shares of AON from $254.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 27th. Finally, Atlantic Securities upgraded shares of AON from a “neutral” rating to an “overweight” rating and set a $265.00 target price for the company in a research report on Thursday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. AON presently has a consensus rating of “Hold” and a consensus price target of $239.40.

Shares of NYSE AON traded down $0.59 during mid-day trading on Friday, hitting $248.85. The company’s stock had a trading volume of 35,177 shares, compared to its average volume of 1,657,917. The stock has a market capitalization of $56.15 billion, a PE ratio of 27.35 and a beta of 0.85. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 1.67. Aon plc has a one year low of $177.21 and a one year high of $260.97. The company has a fifty day simple moving average of $245.66.

AON (NYSE:AON) last issued its earnings results on Thursday, April 29th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.23. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.35 billion. AON had a net margin of 18.55% and a return on equity of 62.86%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.68 EPS. On average, equities research analysts anticipate that Aon plc will post 11.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Monday, May 3rd were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, April 30th. This is a positive change from AON’s previous quarterly dividend of $0.46. AON’s dividend payout ratio (DPR) is 20.80%.

About AON

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance solutions provider; and health solutions, such as health and benefits brokerages, and health care exchanges.

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Institutional Ownership by Quarter for AON (NYSE:AON)

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