Aon plc (NYSE:AON) Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC grew its position in Aon plc (NYSE:AON) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 826 shares of the financial services provider’s stock after purchasing an additional 110 shares during the period. Cornerstone Wealth Group LLC’s holdings in AON were worth $276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors lifted its position in AON by 0.4% during the 4th quarter. Capital International Investors now owns 5,524,730 shares of the financial services provider’s stock worth $1,607,519,000 after acquiring an additional 22,346 shares in the last quarter. Mackenzie Financial Corp lifted its position in AON by 8.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,331,132 shares of the financial services provider’s stock worth $678,406,000 after acquiring an additional 179,238 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in AON by 14.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,472,309 shares of the financial services provider’s stock worth $428,280,000 after acquiring an additional 182,688 shares in the last quarter. Norges Bank acquired a new position in AON during the 4th quarter worth approximately $423,030,000. Finally, Charles Schwab Investment Management Inc. lifted its position in AON by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the financial services provider’s stock worth $307,989,000 after acquiring an additional 5,727 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on AON shares. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of AON in a report on Tuesday, June 18th. Piper Sandler dropped their price objective on AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Citigroup started coverage on AON in a report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $311.00 price objective on shares of AON in a report on Tuesday, May 28th. Finally, Wells Fargo & Company dropped their price objective on AON from $300.00 to $289.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, AON currently has an average rating of “Hold” and a consensus price target of $321.86.

AON Trading Up 0.3 %

AON traded up $0.78 during trading on Friday, reaching $293.58. 1,312,306 shares of the company were exchanged, compared to its average volume of 1,813,326. Aon plc has a 52 week low of $268.06 and a 52 week high of $347.37. The firm has a 50 day moving average of $289.64 and a 200 day moving average of $302.59. The stock has a market cap of $63.83 billion, a P/E ratio of 23.01, a PEG ratio of 1.94 and a beta of 0.91.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the firm posted $5.17 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Aon plc will post 15.48 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.675 dividend. This is a positive change from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $2.70 annualized dividend and a dividend yield of 0.92%. AON’s dividend payout ratio is 21.16%.

Insider Activity

In other news, Director Lester B. Knight acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the completion of the acquisition, the director now directly owns 139,000 shares in the company, valued at approximately $38,448,790. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.15% of the company’s stock.

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.