Penobscot Investment Management Company Inc. Takes $276,000 Position in Aon plc (NYSE:AON)

Penobscot Investment Management Company Inc. bought a new position in shares of Aon plc (NYSE:AONFree Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 850 shares of the financial services provider’s stock, valued at approximately $276,000.

A number of other large investors have also added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its position in AON by 106,777.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,817,279 shares of the financial services provider’s stock worth $845,578,000 after acquiring an additional 2,814,643 shares during the period. Norges Bank acquired a new position in AON during the fourth quarter valued at approximately $341,922,000. C WorldWide Group Holding A S acquired a new stake in shares of AON in the 2nd quarter valued at $271,770,000. Sustainable Growth Advisers LP raised its holdings in AON by 41.8% in the 2nd quarter. Sustainable Growth Advisers LP now owns 2,547,402 shares of the financial services provider’s stock valued at $879,363,000 after buying an additional 751,015 shares during the last quarter. Finally, Morgan Stanley grew its stake in AON by 38.7% during the fourth quarter. Morgan Stanley now owns 2,223,478 shares of the financial services provider’s stock worth $667,355,000 after purchasing an additional 620,067 shares during the period. Institutional investors own 86.45% of the company’s stock.

AON Stock Down 2.5 %

AON stock opened at $292.40 on Monday. The firm has a market capitalization of $58.54 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.99 and a beta of 0.86. Aon plc has a 1-year low of $280.89 and a 1-year high of $347.37. The company has a current ratio of 1.27, a quick ratio of 1.41 and a debt-to-equity ratio of 61.66. The firm has a 50 day simple moving average of $305.70 and a 200 day simple moving average of $319.64.

AON (NYSE:AONGet Free Report) last posted its earnings results on Friday, February 2nd. The financial services provider reported $3.89 earnings per share for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.18). The company had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.36 billion. AON had a net margin of 19.17% and a negative return on equity of 1,150.40%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.89 EPS. On average, analysts predict that Aon plc will post 16.21 earnings per share for the current year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.615 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.46 annualized dividend and a dividend yield of 0.84%. AON’s payout ratio is currently 19.71%.

Analysts Set New Price Targets

A number of brokerages recently commented on AON. Piper Sandler decreased their target price on AON from $318.00 to $306.00 and set a “neutral” rating for the company in a research report on Thursday, December 21st. JPMorgan Chase & Co. upgraded shares of AON from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $351.00 to $321.00 in a research note on Monday, January 8th. BMO Capital Markets dropped their price target on shares of AON from $350.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, December 22nd. Morgan Stanley upped their price objective on shares of AON from $340.00 to $357.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. Finally, Wells Fargo & Company reduced their target price on AON from $304.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, December 21st. 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 stock. According to data from MarketBeat.com, AON currently has an average rating of “Hold” and a consensus target price of $338.31.

Get Our Latest Stock Analysis on AON

AON Company Profile

(Free Report)

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health 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.

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Institutional Ownership by Quarter for AON (NYSE:AON)

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