Aon plc (NYSE:AON – Free Report) – William Blair cut their Q3 2023 earnings per share estimates for shares of AON in a report issued on Monday, October 16th. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings per share of $2.09 for the quarter, down from their previous forecast of $2.14. The consensus estimate for AON’s current full-year earnings is $14.27 per share. William Blair also issued estimates for AON’s Q4 2023 earnings at $4.13 EPS, FY2023 earnings at $14.16 EPS and FY2024 earnings at $16.07 EPS.
A number of other brokerages also recently weighed in on AON. Deutsche Bank Aktiengesellschaft initiated coverage on AON in a research report on Wednesday, October 4th. They set a “hold” rating and a $361.00 price objective on the stock. Jefferies Financial Group boosted their price objective on shares of AON from $331.00 to $339.00 in a research note on Friday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of AON from $322.00 to $351.00 in a report on Thursday, July 6th. Bank of America upped their price target on AON from $365.00 to $380.00 in a research report on Sunday, July 30th. Finally, Morgan Stanley raised their price objective on AON from $340.00 to $357.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $346.67.
AON Stock Down 0.8 %
Shares of NYSE AON opened at $324.93 on Wednesday. AON has a 12-month low of $270.37 and a 12-month high of $347.37. The stock’s fifty day simple moving average is $329.18 and its two-hundred day simple moving average is $327.58. The stock has a market capitalization of $65.92 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 61.66.
AON (NYSE:AON – Get Free Report) last posted its earnings results on Friday, July 28th. The financial services provider reported $2.76 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.17 billion. AON had a net margin of 20.78% and a negative return on equity of 1,312.86%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business posted $2.63 EPS.
AON Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.615 per share. The ex-dividend date is Tuesday, October 31st. This represents a $2.46 annualized dividend and a dividend yield of 0.76%. AON’s dividend payout ratio (DPR) is presently 19.16%.
Insider Activity at AON
In related news, Director Byron Spruell bought 800 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $324.57 per share, for a total transaction of $259,656.00. Following the completion of the purchase, the director now directly owns 4,001 shares of the company’s stock, valued at $1,298,604.57. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.15% of the stock is currently owned by insiders.
Institutional Trading of AON
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norris Perne & French LLP MI raised its stake in shares of AON by 6.5% during the 3rd quarter. Norris Perne & French LLP MI now owns 1,140 shares of the financial services provider’s stock worth $370,000 after buying an additional 70 shares during the period. Coastline Trust Co raised its position in AON by 210.5% during the third quarter. Coastline Trust Co now owns 2,810 shares of the financial services provider’s stock worth $911,000 after acquiring an additional 1,905 shares during the period. Proficio Capital Partners LLC lifted its holdings in AON by 6.2% during the third quarter. Proficio Capital Partners LLC now owns 1,007 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 59 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of AON by 35,650.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,720 shares of the financial services provider’s stock worth $1,855,000 after purchasing an additional 5,704 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in AON by 0.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 23,915 shares of the financial services provider’s stock valued at $7,799,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.
About AON
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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