Lido Advisors Increases Stake in Aon plc by Over 121% in Q2

Lido Advisors LLC has significantly increased its stake in Aon plc (NYSE: AON), boosting its holdings by an impressive 121.6% during the second quarter of 2023. According to holdings data reported by HoldingsChannel.com, Lido Advisors now owns 9,629 shares of the financial services provider, having acquired an additional 5,283 shares during this period. The total value of Lido’s investment in Aon is approximately $3,435,000 as per its latest filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made notable changes to their positions in Aon. Vanguard Group Inc. increased its stake by 2.6%, now holding 20,289,743 shares valued at around $7.24 billion after purchasing an additional 511,292 shares. Geode Capital Management LLC raised its holdings by 3.2%, resulting in ownership of 5,588,279 shares worth nearly $1.99 billion. Similarly, Bank of New York Mellon Corp expanded its stake by 15.6%, now owning 3,507,656 shares valued at approximately $1.25 billion.

In the first quarter, Polen Capital Management LLC made a significant move by boosting its holdings by 318.1%, acquiring 3,007,719 shares valued at $1.20 billion. Additionally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position by 13.2%, resulting in ownership of 2,706,904 shares valued at about $965.7 million. Overall, institutional investors control 86.14% of Aon’s stock.

Stock Performance and Dividends

On November 14, 2023, Aon’s stock opened at $345.84, reflecting a 1.5% decline. The company’s 50-day moving average is $349.01, while the 200-day moving average stands at $357.02. Aon has a current market capitalization of $74.33 billion and a price-to-earnings (PE) ratio of 27.71. The company reported a debt-to-equity ratio of 1.86 with both a current and quick ratio of 1.35. Over the past year, Aon’s stock has fluctuated between a low of $323.73 and a high of $412.97.

Aon also recently announced a quarterly dividend of $0.745, which was paid on November 14. Shareholders of record as of November 3 received this dividend, resulting in an annualized dividend of $2.98 and a yield of 0.9%. The dividend payout ratio (DPR) currently stands at 23.88%.

Analyst Ratings and Future Prospects

Several analysts have recently weighed in on Aon’s stock. Weiss Ratings reaffirmed a “buy (B-)” rating, while Morgan Stanley upgraded Aon from “equal weight” to “overweight,” raising their price target from $385.00 to $430.00. Roth Capital maintained a “buy” rating with a target price of $390.00, and Cantor Fitzgerald designated Aon as a “strong buy.”

Overall, one analyst has given Aon a Strong Buy rating, twelve have assigned a Buy rating, and five rate it as Hold. According to MarketBeat.com, Aon currently holds an average rating of “Moderate Buy” with a target price of $416.56.

Aon plc operates in the risk, health, and wealth solutions sectors, focusing on providing services related to risk capital, claim management, analytics, health and benefits, and workplace wellbeing. As institutional investors continue to show strong interest in Aon, market observers will be keen to see how these developments impact the company’s future performance.