Nicholas Company Inc. has decreased its stake in Aon plc (NYSE: AON) by 8.3% during the second quarter of 2023, according to data from HoldingsChannel.com. The investment firm now holds 181,427 shares of the financial services provider after selling 16,360 shares throughout the period. As of its latest filing with the Securities and Exchange Commission (SEC), Nicholas Company’s holdings in Aon are valued at approximately $64.7 million.
Several other significant investors have also adjusted their positions in Aon recently. Mutual Advisors LLC acquired a new stake in the company during the first quarter, valued at $256,000. D.A. Davidson & Co. increased its investment by 4.4%, now owning 2,327 shares worth $929,000 following the purchase of an additional 99 shares. Conning Inc. also raised its stake by 2.0%, acquiring 1,648 shares currently valued at $658,000 after a purchase of 32 shares.
In a more substantial move, Harel Insurance Investments & Financial Services Ltd. boosted its stake by 45.7%, bringing its total to 1,206 shares valued at $481,000. Catalyst Capital Advisors LLC made a significant increase of 425.3%, now holding 1,907 shares worth $761,000 after acquiring an additional 1,544 shares. Overall, institutional investors and hedge funds own 86.14% of Aon’s stock.
Aon Stock Performance and Dividend Announcement
On Friday, Aon shares opened at $340.75. The stock has shown a market capitalization of $73.48 billion, with a price-to-earnings (P/E) ratio of 28.54 and a P/E to growth (P/E/G) ratio of 1.92. The stock’s beta stands at 0.89, indicating lower volatility compared to the market. Aon has experienced a 52-week low of $323.73 and a high of $412.97. Currently, its 50-day moving average price is $356.70, while its 200-day moving average is $358.58.
In addition to stock movements, Aon has announced a quarterly dividend of $0.745 per share, set to be paid on November 14, 2023. Shareholders of record as of November 3, 2023 will be eligible for this dividend, which represents an annualized payout of $2.98 and a yield of 0.9%. The company’s dividend payout ratio (DPR) is 23.88%.
Analysts Offer Revised Price Targets
Recent evaluations from equity research analysts reflect a positive outlook for Aon. Piper Sandler raised its target price from $393.00 to $413.00 and assigned an “overweight” rating on July 28, 2023. Jefferies Financial Group upgraded its rating from “hold” to “buy,” increasing its target from $400.00 to $426.00 on July 30, 2023. Cantor Fitzgerald also upgraded Aon to a “strong-buy” rating on August 13, 2023.
Barclays reaffirmed an “overweight” rating and increased its price target to $420.00, up from $401.00, in a report released on July 31, 2023. Weiss Ratings provided a “buy (b-)” rating in an evaluation on October 8, 2023. Currently, one investment analyst has rated Aon as a Strong Buy, eleven analysts have given it a Buy rating, and five analysts have issued a Hold rating. According to MarketBeat.com, Aon holds a consensus rating of “Moderate Buy” with an average price target of $420.00.
Aon plc specializes in providing risk, health, and wealth solutions, focusing on risk capital, claim management, reinsurance, and human capital including health benefits, investments, and workplace wellbeing. For more details on Aon and its investors, HoldingsChannel.com offers insights into the latest 13F filings and insider trades.
