Verition Fund Management LLC Purchases 1,831 Shares of Aon plc $AON

Verition Fund Management LLC boosted its position in shares of Aon plc (NYSE:AON) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,562 shares of the financial services provider’s stock after acquiring an additional 1,831 shares during the period. AON accounts for 0.3% of Verition Fund Management LLC’s investment portfolio, making the stock its 21st biggest holding. Verition Fund Management LLC owned approximately 0.10% of AON worth $73,244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wealth Watch Advisors INC acquired a new position in shares of AON during the third quarter valued at about $25,000. Eagle Bay Advisors LLC acquired a new stake in AON during the fourth quarter worth about $30,000. Strive Asset Management LLC acquired a new position in AON in the 3rd quarter valued at approximately $35,000. Cornerstone Financial Management LLC bought a new stake in shares of AON in the 4th quarter worth approximately $37,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of AON during the 3rd quarter worth approximately $37,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Up 0.1%

Shares of NYSE:AON opened at $335.51 on Monday. 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 firm has a market cap of $71.66 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.76 and a beta of 0.71. Aon plc has a 12 month low of $304.59 and a 12 month high of $381.00. The company’s 50-day moving average price is $322.69 and its two-hundred day moving average price is $332.60.

AON (NYSE:AON) last announced its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period in the prior year, the business earned $5.67 earnings per share. AON’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts forecast that Aon plc will post 19.1 EPS for the current fiscal year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 1st. This is a boost from AON’s previous quarterly dividend of $0.75. AON’s dividend payout ratio is currently 16.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AON shares. Piper Sandler upped their target price on AON from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Citigroup lifted their price target on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley dropped their price objective on shares of AON from $380.00 to $370.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. TD Cowen reiterated a “buy” rating on shares of AON in a research report on Monday, March 16th. Finally, Barclays dropped their price target on shares of AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.81.

AON Company Profile

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.