Tanager Wealth Management LLP Takes Position in Aon plc (NYSE:AON)

Tanager Wealth Management LLP purchased a new position in shares of Aon plc (NYSE:AON) during the third quarter, HoldingsChannel reports. The fund purchased 1,383 shares of the financial services provider’s stock, valued at approximately $479,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of AON by 0.4% during the first quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock worth $5,894,053,000 after purchasing an additional 64,500 shares during the period. Massachusetts Financial Services Co. MA increased its stake in AON by 2.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,552,569 shares of the financial services provider’s stock worth $3,685,183,000 after acquiring an additional 309,702 shares during the period. Mawer Investment Management Ltd. lifted its position in shares of AON by 1.2% during the 2nd quarter. Mawer Investment Management Ltd. now owns 4,405,780 shares of the financial services provider’s stock valued at $1,293,449,000 after acquiring an additional 52,099 shares during the period. Sustainable Growth Advisers LP increased its position in shares of AON by 4.7% in the first quarter. Sustainable Growth Advisers LP now owns 2,805,199 shares of the financial services provider’s stock worth $936,151,000 after purchasing an additional 127,173 shares during the period. Finally, Independent Franchise Partners LLP grew its stake in AON by 2.1% during the second quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock worth $707,390,000 after buying an additional 49,161 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Up 0.6 %

AON opened at $358.29 on Thursday. The stock has a market cap of $77.83 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 2.31 and a beta of 0.92. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. Aon plc has a twelve month low of $268.06 and a twelve month high of $363.46. The company has a fifty day moving average of $347.63 and a 200-day moving average of $316.00.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the business posted $2.76 earnings per share. The business’s revenue was up 18.4% on a year-over-year basis. On average, sell-side analysts predict that Aon plc will post 15.21 EPS for the current year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.675 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.75%. AON’s dividend payout ratio is currently 21.58%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Keefe, Bruyette & Woods upgraded shares of AON from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. Barclays assumed coverage on AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price objective for the company. Piper Sandler boosted their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price target on shares of AON from $300.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $335.00 price objective on shares of AON in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $347.06.

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.