Sumitomo Mitsui DS Asset Management Company Ltd Buys 845 Shares of Aon plc (NYSE:AON)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Aon plc (NYSE:AON) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,651 shares of the financial services provider’s stock after acquiring an additional 845 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AON were worth $7,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new position in shares of AON in the 4th quarter worth about $31,000. Rise Advisors LLC purchased a new position in AON in the first quarter valued at approximately $37,000. First United Bank & Trust bought a new position in AON during the fourth quarter valued at $44,000. Bruce G. Allen Investments LLC increased its position in AON by 52.7% in the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock worth $49,000 after buying an additional 58 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of AON during the 1st quarter valued at $55,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AON from $311.00 to $353.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Wells Fargo & Company lifted their price objective on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Citigroup began coverage on AON in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $335.00 price objective on shares of AON in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, AON has an average rating of “Hold” and a consensus price target of $333.21.

AON Price Performance

Shares of NYSE:AON opened at $343.72 on Friday. Aon plc has a one year low of $268.06 and a one year high of $345.56. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a market capitalization of $74.74 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.17 and a beta of 0.91. The company’s fifty day moving average price is $313.85 and its 200-day moving average price is $307.63.

AON (NYSE:AON) last released its quarterly earnings results 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 firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the business earned $2.76 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts anticipate that Aon plc will post 15.25 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently declared 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. This represents a $2.70 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, August 1st. AON’s dividend payout ratio (DPR) is presently 21.16%.

AON Company Profile

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.