Mattern Capital Management LLC Buys 337 Shares of Aon plc (NYSE:AON)

Mattern Capital Management LLC lifted its position in Aon plc (NYSE:AON) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,478 shares of the financial services provider’s stock after buying an additional 337 shares during the quarter. Mattern Capital Management LLC’s holdings in AON were worth $727,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AON. Frazier Financial Advisors LLC bought a new stake in shares of AON in the 4th quarter valued at about $31,000. Rise Advisors LLC acquired a new position in AON during the first quarter worth approximately $37,000. First United Bank & Trust acquired a new stake in shares of AON in the fourth quarter valued at approximately $44,000. LRI Investments LLC bought a new position in shares of AON during the 1st quarter worth approximately $55,000. Finally, Bruce G. Allen Investments LLC increased its holdings 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 worth $49,000 after acquiring an additional 58 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

AON opened at $348.26 on Thursday. The firm has a market cap of $75.66 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. Aon plc has a 52-week low of $268.06 and a 52-week high of $349.87. The business’s fifty day moving average is $317.94 and its 200-day moving average is $308.56.

AON (NYSE:AON) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business earned $2.76 earnings per share. Sell-side analysts expect that Aon plc will post 15.23 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a yield of 0.78%. AON’s dividend payout ratio is currently 21.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler raised their price target on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Barclays initiated coverage on shares of AON in a report on Wednesday. They set an “overweight” rating and a $394.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Finally, Citigroup assumed coverage on AON in a research note on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $337.27.

About AON

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.