Cornerstone Wealth Group LLC Has $255,000 Position in Aon plc (NYSE:AON)

Cornerstone Wealth Group LLC lifted its position in shares of Aon plc (NYSE:AON) by 5.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 867 shares of the financial services provider’s stock after buying an additional 41 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in AON were worth $255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AON. Frazier Financial Advisors LLC acquired a new position in shares of AON during the 4th quarter worth approximately $31,000. Rise Advisors LLC acquired a new stake in AON during the first quarter worth approximately $37,000. First United Bank & Trust acquired a new position in AON in the 4th quarter valued at $44,000. Bruce G. Allen Investments LLC lifted its position in shares of AON by 52.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 58 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of AON during the 1st quarter worth $55,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Trading Down 0.8 %

NYSE AON traded down $2.82 on Friday, hitting $336.82. The company’s stock had a trading volume of 449,437 shares, compared to its average volume of 1,266,554. The firm has a market cap of $73.24 billion, a PE ratio of 26.41, a PEG ratio of 2.14 and a beta of 0.91. The company’s 50-day moving average is $310.47 and its 200 day moving average is $306.67. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. Aon plc has a 1-year low of $268.06 and a 1-year high of $344.68.

AON (NYSE:AON) last announced its earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the previous year, the firm posted $2.76 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, analysts predict that Aon plc will post 15.25 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.675 dividend. The ex-dividend date was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.80%. AON’s dividend payout ratio (DPR) is currently 21.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AON. Royal Bank of Canada reiterated a “sector perform” rating and set a $335.00 price objective on shares of AON in a research note on Monday, August 5th. Citigroup initiated coverage on shares of AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price objective for the company. Wells Fargo & Company lifted their price target on AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Morgan Stanley dropped their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $311.00 target price on shares of AON in a research note on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $330.21.

AON Company Profile

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.