AlpInvest Partners B.V. Purchases New Position in Aon plc (NYSE:AON)

AlpInvest Partners B.V. acquired a new stake in shares of Aon plc (NYSE:AON) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,436 shares of the financial services provider’s stock, valued at approximately $11,578,000. AON makes up about 4.2% of AlpInvest Partners B.V.’s portfolio, making the stock its 8th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in AON. Frazier Financial Advisors LLC bought a new stake in shares of AON during the 4th quarter worth about $31,000. Y.D. More Investments Ltd acquired a new stake in AON in the 2nd quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in AON during the first quarter worth approximately $37,000. Bruce G. Allen Investments LLC grew its holdings in AON by 52.7% during the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 58 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of AON in the first quarter worth $55,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Price Performance

Shares of AON stock opened at $347.85 on Monday. The firm has a market cap of $75.63 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The firm’s 50-day simple moving average is $325.51 and its 200-day simple moving average is $310.19. Aon plc has a twelve month low of $268.06 and a twelve month high of $352.49. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42.

AON (NYSE:AON) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the previous year, the firm posted $2.76 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, research analysts expect that Aon plc will post 15.23 EPS for the current fiscal year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.675 per share. The ex-dividend date was Thursday, August 1st. This represents a $2.70 annualized dividend and a yield of 0.78%. AON’s dividend payout ratio is currently 21.16%.

Analysts Set New Price Targets

Several brokerages recently commented on AON. Piper Sandler lifted their target price on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $313.00 to $380.00 in a research note on Tuesday, July 30th. Wells Fargo & Company raised their target price on AON from $287.00 to $300.00 and gave the company an “underweight” rating in a report on Monday, July 29th. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $337.27.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.