Should You Be Confident in the Growth Prospects of Aon plc (AON)?

Weitz Investment Management, an investment management firm, released its “Partners III Opportunity Fund” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund’s Institutional Class returned -2.96% compared to a +3.22% return for the Russell 3000 Index. Year-to-date the fund returned +5.01% compared to +13.56% return for the index. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.

Weitz Investment Management Partners III Opportunity Fund highlighted stocks like Aon plc (NYSE:AON), in the second quarter 2024 investor letter. Aon plc (NYSE:AON) offers a range of risk and human capital solutions. The one-month return of Aon plc (NYSE:AON) was 13.09%, and its shares gained 3.38% of their value over the last 52 weeks. On August 21, 2024, Aon plc (NYSE:AON) stock closed at $338.07 per share with a market capitalization of $73.443 billion.

Weitz Investment Management Partners III Opportunity Fund stated the following regarding Aon plc (NYSE:AON) in its Q2 2024 investor letter:

“The second quarter saw an elevated level of portfolio activity, including three new holdings. We re-initiated a position in global insurance broker and benefits provider Aon plc (NYSE:AON), as dissatisfaction over a recent, highly valued acquisition and the announced retirement of its well-regarded CFO pressured shares. Despite these near-term headwinds, we remain confident in Aon’s ongoing leadership team and demonstrated track record of execution.”

A group of multi-cultural professionals discussing the future of insurance services in a modern office.

Aon plc (NYSE:AON) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Aon plc (NYSE:AON) at the end of the second quarter which was 51 in the previous quarter. In the second quarter, Aon plc (NYSE:AON) delivered exceptional results with a 6% rise in organic revenue. While we acknowledge the potential of Aon plc (NYSE:AON) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Aon plc (NYSE:AON) and shared Artisan Select Equity Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure: None. This article is originally published at Insider Monkey.