Bank of New York Mellon Corp Acquires 343,592 Shares of Aon plc (NYSE:AON)

Bank of New York Mellon Corp boosted its stake in shares of Aon plc (NYSE:AON) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,564,824 shares of the financial services provider’s stock after acquiring an additional 343,592 shares during the quarter. Bank of New York Mellon Corp owned about 1.19% of AON worth $921,182,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in AON by 0.4% during the 3rd quarter. State Street Corp now owns 8,844,121 shares of the financial services provider’s stock valued at $3,059,977,000 after buying an additional 32,417 shares during the period. Geode Capital Management LLC increased its position in AON by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,322,177 shares of the financial services provider’s stock valued at $1,489,690,000 after acquiring an additional 38,447 shares during the last quarter. Veritas Asset Management LLP raised its stake in shares of AON by 41.6% in the third quarter. Veritas Asset Management LLP now owns 3,010,557 shares of the financial services provider’s stock valued at $1,041,623,000 after acquiring an additional 883,761 shares during the period. Cantillon Capital Management LLC lifted its holdings in shares of AON by 15.6% in the 3rd quarter. Cantillon Capital Management LLC now owns 1,316,218 shares of the financial services provider’s stock worth $455,398,000 after acquiring an additional 177,956 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of AON by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,206,763 shares of the financial services provider’s stock worth $417,528,000 after purchasing an additional 11,922 shares during the period. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

Shares of NYSE:AON opened at $392.14 on Tuesday. The firm has a 50 day moving average of $369.16 and a 200 day moving average of $362.52. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $84.70 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. Aon plc has a 52 week low of $268.06 and a 52 week high of $396.15.

AON (NYSE:AON) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.42 EPS for the quarter, topping the consensus estimate of $4.25 by $0.17. AON had a return on equity of 70.84% and a net margin of 16.91%. During the same period last year, the business posted $3.89 earnings per share. On average, sell-side analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Monday, February 3rd. AON’s payout ratio is currently 21.33%.

Wall Street Analyst Weigh In

AON has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of AON from $410.00 to $445.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Evercore ISI upgraded AON from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $407.00 to $420.00 in a report on Wednesday, January 8th. Piper Sandler increased their target price on AON from $372.00 to $384.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on shares of AON from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets raised their price target on shares of AON from $325.00 to $380.00 and gave the stock a “market perform” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $386.21.

Insider Buying and Selling

In other AON news, COO Mindy F. Simon sold 650 shares of AON stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $394.34, for a total value of $256,321.00. Following the transaction, the chief operating officer now directly owns 1,816 shares of the company’s stock, valued at approximately $716,121.44. The trade was a 26.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

AON Profile

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.