OLD National Bancorp IN Buys 2,100 Shares of Aon plc $AON

OLD National Bancorp IN boosted its stake in shares of Aon plc (NYSE:AON) by 8.6% in the first quarter, Holdings Channel reports. The firm owned 26,400 shares of the financial services provider’s stock after acquiring an additional 2,100 shares during the period. OLD National Bancorp IN’s holdings in AON were worth $8,521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC boosted its holdings in shares of AON by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock worth $683,000 after buying an additional 29 shares during the period. Kathmere Capital Management LLC raised its holdings in AON by 2.1% in the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock worth $558,000 after acquiring an additional 32 shares during the period. City National Bank of Florida MSD raised its holdings in AON by 3.8% in the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 32 shares during the period. Westpac Banking Corp boosted its holdings in AON by 5.6% during the third quarter. Westpac Banking Corp now owns 620 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 33 shares during the period. Finally, Capital Investment Advisors LLC boosted its stake in AON by 1.8% during the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 33 shares during the period. Institutional investors own 86.14% of the company’s stock.

AON Stock Performance

AON stock opened at $328.40 on Friday. The firm has a market capitalization of $70.14 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.66 and a beta of 0.71. The stock has a fifty day moving average price of $322.53 and a two-hundred day moving average price of $330.87. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON) last posted its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.37 by $0.11. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.67 EPS. As a group, analysts anticipate that Aon plc will post 19.09 EPS for the current fiscal 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 issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is an increase from AON’s previous quarterly dividend of $0.74. AON’s dividend payout ratio (DPR) is presently 18.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AON shares. Bank of America raised AON from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $398.00 to $397.00 in a research report on Friday, February 27th. UBS Group reduced their price target on shares of AON from $385.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their target price on shares of AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings restated a “hold (c)” rating on shares of AON in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company lowered their price target on shares of AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AON presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.94.

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.