Elevation Point Wealth Partners LLC Raises Stake in Aon plc $AON

Elevation Point Wealth Partners LLC raised its holdings in shares of Aon plc (NYSE:AON) by 495.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,724 shares of the financial services provider’s stock after acquiring an additional 8,924 shares during the period. Elevation Point Wealth Partners LLC’s holdings in AON were worth $3,461,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Wealth Watch Advisors INC purchased a new stake in shares of AON in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in AON in the 4th quarter worth $27,000. Kemnay Advisory Services Inc. purchased a new position in AON in the 4th quarter worth $29,000. Eagle Bay Advisors LLC bought a new stake in AON in the fourth quarter worth $30,000. Finally, Strive Asset Management LLC purchased a new stake in AON during the third quarter valued at about $35,000. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AON has been the topic of a number of recent research reports. Mizuho reduced their price objective on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Barclays dropped their target price on AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price target on AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Company decreased their price target on AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AON in a research report on Tuesday, April 21st. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $394.94.

AON Stock Performance

AON stock opened at $356.89 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm has a market cap of $76.23 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.88 and a beta of 0.71. Aon plc has a 1-year low of $304.59 and a 1-year high of $381.00. The firm has a 50-day moving average of $323.63 and a 200-day moving average of $330.77.

AON (NYSE:AON) last announced its quarterly 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 return on equity of 43.50% and a net margin of 22.54%.AON’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.67 EPS. Sell-side analysts expect that Aon plc will post 19.09 EPS for the current year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. This is a boost from AON’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, May 1st. AON’s payout ratio is presently 18.00%.

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.