Cercano Management LLC Takes $29.70 Million Position in Aon plc $AON

Cercano Management LLC bought a new stake in Aon plc (NYSE:AON) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 83,237 shares of the financial services provider’s stock, valued at approximately $29,696,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Saudi Central Bank acquired a new stake in AON in the first quarter valued at approximately $31,000. HHM Wealth Advisors LLC lifted its holdings in shares of AON by 54.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 29 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in AON in the 2nd quarter valued at $31,000. Trust Co. of Toledo NA OH bought a new stake in AON during the 2nd quarter valued at $32,000. Finally, Pinnacle Bancorp Inc. raised its holdings in AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock worth $32,000 after buying an additional 33 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Trading Down 0.3%

NYSE:AON opened at $349.98 on Friday. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. The firm has a 50-day moving average price of $351.87 and a two-hundred day moving average price of $357.62. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market cap of $75.22 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86.

AON (NYSE:AON) last released its earnings results on Thursday, October 30th. The financial services provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.14. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.97 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.AON’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.72 earnings per share. On average, equities analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, November 3rd. AON’s payout ratio is presently 23.88%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AON. Citigroup upgraded shares of AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective for the company in a report on Monday, November 3rd. Wells Fargo & Company dropped their price target on shares of AON from $451.00 to $448.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Evercore ISI boosted their price objective on AON from $427.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Cantor Fitzgerald raised AON to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and lifted their target price for the company from $400.00 to $426.00 in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $419.13.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.