September 10, 2023 – Investment management firm Douglass Winthrop Advisors LLC has announced an increase in its position in Aon plc, a leading financial services provider. According to the company’s recent filing with the Securities and Exchange Commission (SEC), Douglass Winthrop Advisors LLC purchased an additional 2,460 shares of AON stock during the first quarter of this year, resulting in a 0.7% increase in its overall position.
With this latest acquisition, Douglass Winthrop Advisors LLC now holds a total of 351,436 shares of AON. This investment comprises approximately 2.9% of the firm’s portfolio and ranks as its ninth-largest position. As of the end of the first quarter, Douglass Winthrop Advisors LLC’s ownership stake was valued at $110,804,000.
It is worth noting that Aon plc recently declared a quarterly dividend that was paid out on Tuesday, August 15th. Shareholders who were recorded as owning shares as of Tuesday, August 1st were eligible to receive a dividend payment of $0.615 per share. The annualized dividend amounts to $2.46 per share and currently presents a dividend yield of 0.74%. The ex-dividend date for this particular dividend was Monday, July 31st.
Douglass Winthrop Advisors LLC’s increased position in AON not only reflects its confidence in the financial services provider but also demonstrates its strategic investment approach. By carefully analyzing market opportunities and making informed investment decisions based on thorough research and analysis, Douglass Winthrop Advisors LLC aims to optimize returns for its clients.
Aon plc is well-positioned within the financial services industry due to its diverse range of solutions and expertise in risk mitigation and insurance brokerage services. The company operates globally and offers innovative products tailored to meet the unique needs of clients across various industries.
The increase in Douglass Winthrop Advisors LLC’s stake in AON highlights the investment firm’s commitment to maximizing its clients’ returns by strategically allocating capital across various sectors and companies. The recent quarterly dividend payment further underscores AON’s commitment to rewarding its shareholders, making it an attractive investment option for long-term investors seeking stable returns.
As market dynamics evolve and new opportunities emerge, Douglass Winthrop Advisors LLC continues to monitor and evaluate potential investments that align with its investment philosophy. By consistently applying a disciplined approach to portfolio management, the firm aims to navigate market fluctuations and generate sustainable growth for its clients.
With its latest move in bolstering its position in Aon plc, Douglass Winthrop Advisors LLC has demonstrated that it remains focused on identifying promising investment opportunities while maintaining a diversified and balanced portfolio. As financial markets continue to provide unique challenges and opportunities, Douglass Winthrop Advisors LLC strives to adapt its strategies accordingly, keeping the best interests of its clients at the forefront.
AON Attracts Attention from Hedge Funds and Institutional Investors as Analysts Maintain Mixed Opinions
AON, a global financial services provider, has recently attracted attention from various hedge funds and institutional investors. ZRC Wealth Management LLC acquired a new position in AON during the first quarter of this year, purchasing shares valued at approximately $26,000. Similarly, Park Place Capital Corp significantly increased its stake in AON by 211.4% during the same period, now owning 109 shares worth $34,000 after acquiring an additional 74 shares. Ritter Daniher Financial Advisory LLC DE also saw an increase in its stake in AON by 117.3% in the fourth quarter, with 113 shares worth $34,000 after obtaining an additional 61 shares. Additionally, Grey Fox Wealth Advisors LLC purchased a new position in AON during the fourth quarter for around $36,000. Finally, Sturgeon Ventures LLP completed their acquisition of a new position in AON during the first quarter for approximately $57,000. These institutional investors collectively own 86.45% of AON’s stock.
Recently, several equities analysts have issued reports on AON. Bank of America raised its target price on AON from $365.00 to $380.00 in a research note released on July 30th. StockNews.com also provided coverage on AON and assigned it a “hold” rating on August 17th. Royal Bank of Canada reconfirmed its “sector perform” rating and set a target price of $352.00 for AON’s stock in a research note released on July 31st. Piper Sandler reduced their target price from $325.00 to $322.00 and gave a “neutral” rating on the stock in another research note also released on July 31st by JPMorgan Chase & Co., who raised their target price from $322.00 to $351.00.
Despite these diverse opinions from analysts and experts within the financial industry, Bloomberg reports that the average rating for AON’s stock is “Hold,” with an average target price of $341.55.
On September 10, 2023, AON’s stock traded down by $0.94 during mid-day trading to reach $333.45. The trading volume amounted to 750,345 shares, surpassing its average volume of 568,758 shares. In terms of financial indicators, AON has a current ratio and quick ratio of 1.66 each, indicating a relatively healthy liquidity position. However, the company has a considerably high debt-to-equity ratio of 61.66.
The company’s stock performance shows that it has recently been trading below its 50-day moving average price of $329.84 but above its two-hundred-day moving average price of $322.10. Over the past year, AON’s share prices have fluctuated between a low of $266.35 and a high of $347.37 as it maintains a market capitalization of $67.65 billion.
In terms of its latest earnings results released on July 28th, AON reported earnings per share (EPS) of $2.76 for the quarter which fell short of the consensus estimate by ($0.07) to reach analysts’ expectations at around $2.83 EPS instead Sell-side analysts anticipate that Aon plc will post earnings per share amounting to approximately $14.26 for the current fiscal year based on their estimates.
Overall, although subject to mixed opinions from analysts regarding its stock rating and target price expectations, AON continues to be an active player within the financial services industry as it consistently attracts attention from institutional investors and hedge funds alike.