Rivulet Capital LLC purchased a new position in Aon plc (NYSE:AON) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 450,100 shares of the financial services provider’s stock, valued at approximately $103,574,000. AON accounts for about 5.6% of Rivulet Capital LLC’s portfolio, making the stock its 9th largest position. Rivulet Capital LLC owned 0.20% of AON as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Brown Advisory Inc. grew its stake in shares of AON by 1.5% during the 1st quarter. Brown Advisory Inc. now owns 6,296 shares of the financial services provider’s stock valued at $1,449,000 after acquiring an additional 91 shares during the period. Profund Advisors LLC boosted its position in shares of AON by 12.4% in the first quarter. Profund Advisors LLC now owns 3,564 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 394 shares during the period. Paradigm Financial Partners LLC raised its position in shares of AON by 18.8% during the 1st quarter. Paradigm Financial Partners LLC now owns 7,619 shares of the financial services provider’s stock valued at $1,753,000 after purchasing an additional 1,207 shares during the period. MML Investors Services LLC boosted its holdings in AON by 6.6% in the 1st quarter. MML Investors Services LLC now owns 11,368 shares of the financial services provider’s stock worth $2,616,000 after buying an additional 702 shares during the period. Finally, Hancock Whitney Corp increased its stake in AON by 3.3% in the 1st quarter. Hancock Whitney Corp now owns 4,025 shares of the financial services provider’s stock worth $926,000 after buying an additional 127 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on AON. JPMorgan Chase & Co. boosted their price target on AON from $241.00 to $249.00 and gave the stock an “overweight” rating in a report on Monday, May 3rd. Atlantic Securities raised shares of AON from a “neutral” rating to an “overweight” rating and set a $265.00 target price for the company in a research note on Thursday, February 11th. Deutsche Bank Aktiengesellschaft increased their price target on AON from $205.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, May 3rd. Wells Fargo & Company increased their target price on AON from $275.00 to $287.00 and gave the company an “overweight” rating in a research report on Monday, May 3rd. Finally, Morgan Stanley upped their price target on shares of AON from $254.00 to $268.00 and gave the company an “equal weight” rating in a research note on Thursday, May 27th. One equities 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 stock. The company currently has an average rating of “Hold” and a consensus price target of $239.40.
AON (NYSE:AON) last released its earnings results on Thursday, April 29th. The financial services provider reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.23. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.35 billion. AON had a return on equity of 62.86% and a net margin of 18.55%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.68 earnings per share. Research analysts predict that Aon plc will post 11.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Monday, May 3rd were paid a dividend of $0.51 per share. This is a positive change from AON’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, April 30th. AON’s payout ratio is currently 20.80%.
AON Company Profile
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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