Legacy Wealth Asset Management LLC Purchases 3,757 Shares of Aon plc $AON

Legacy Wealth Asset Management LLC increased its holdings in Aon plc (NYSE:AON) by 115.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,999 shares of the financial services provider’s stock after buying an additional 3,757 shares during the period. AON accounts for approximately 0.6% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 21st largest holding. Legacy Wealth Asset Management LLC’s holdings in AON were worth $2,496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AON. Norges Bank purchased a new stake in shares of AON in the 2nd quarter valued at about $754,671,000. Vanguard Group Inc. raised its stake in AON by 2.6% in the second quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock valued at $7,238,569,000 after purchasing an additional 511,292 shares in the last quarter. Bank of New York Mellon Corp lifted its position in AON by 15.6% during the second quarter. Bank of New York Mellon Corp now owns 3,507,656 shares of the financial services provider’s stock valued at $1,251,391,000 after purchasing an additional 473,594 shares during the last quarter. Altrinsic Global Advisors LLC grew its stake in AON by 193.2% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 692,633 shares of the financial services provider’s stock worth $247,104,000 after buying an additional 456,399 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of AON by 276.0% in the 2nd quarter. Vontobel Holding Ltd. now owns 460,971 shares of the financial services provider’s stock worth $164,456,000 after buying an additional 338,373 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of AON from $428.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Roth Capital reaffirmed a “buy” rating and set a $390.00 price target on shares of AON in a research note on Tuesday, November 4th. Wolfe Research assumed coverage on AON in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. Barclays restated an “equal weight” rating and issued a $379.00 target price (down previously from $420.00) on shares of AON in a research report on Thursday, November 20th. Finally, Evercore ISI increased their price target on shares of AON from $427.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $413.18.

AON Trading Down 0.8%

NYSE AON opened at $350.09 on Monday. The firm has a market cap of $75.25 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.00 and a beta of 0.84. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The stock has a 50-day moving average of $346.06 and a 200-day moving average of $355.50. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.86.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.97 billion. AON had a return on equity of 48.88% and a net margin of 15.96%.The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.72 EPS. As a group, sell-side analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

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. This represents a $2.98 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, November 3rd. AON’s dividend payout ratio is currently 23.88%.

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.