Retirement Systems of Alabama Acquires 64 Shares of Aon plc (NYSE:AON) (2024)

Retirement Systems of Alabama boosted its position in Aon plc (NYSE:AON – Free Report) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,190 shares of the financial services provider’s stock after purchasing an additional 64 shares during the period. Retirement Systems of Alabama’s holdings in AON were worth $14,747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cubic Asset Management LLC purchased a new position in AON in the fourth quarter worth about $1,050,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $307,989,000 after buying an additional 5,727 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in shares of AON by 262.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 2,989 shares in the last quarter. Cerity Partners LLC lifted its position in shares of AON by 177.4% during the 4th quarter. Cerity Partners LLC now owns 18,461 shares of the financial services provider’s stock valued at $5,372,000 after buying an additional 11,806 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in AON by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 331,760 shares of the financial services provider’s stock worth $96,549,000 after purchasing an additional 4,843 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Up 0.4 %

Shares of AON stock opened at $295.90 on Friday. The stock’s fifty day moving average is $288.65 and its two-hundred day moving average is $301.86. The company has a market capitalization of $64.34 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.96 and a beta of 0.91. Aon plc has a 52 week low of $268.06 and a 52 week high of $344.68.

AON (NYSE:AON – Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the company earned $5.17 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Aon plc will post 15.46 earnings per share for the current year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 0.91%. This is a boost from AON’s previous quarterly dividend of $0.62. The ex-dividend date was Tuesday, April 30th. AON’s dividend payout ratio is currently 21.16%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AON shares. JPMorgan Chase & Co. boosted their price target on AON from $318.00 to $353.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Piper Sandler lowered their price target on AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of AON in a research note on Tuesday, June 18th. Citigroup began coverage on AON in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $321.71.

Check Out Our Latest Stock Analysis on AON

Insider Buying and Selling

In related news, Director Lester B. Knight acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now directly owns 139,000 shares of the company’s stock, valued at approximately $38,448,790. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is currently owned by company insiders.

AON Company Profile

(Free Report)

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.

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