Sadoff Investment Management LLC Lowers Stock Position in Aon Plc (NYSE:AON)

Sadoff Investment Management LLC lessened its stake in Aon Plc (NYSE:AON) by 14.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,250 shares of the financial services provider’s stock after selling 209 shares during the quarter. Sadoff Investment Management LLC’s holdings in AON were worth $258,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. WCM Investment Management LLC purchased a new position in AON in the third quarter worth $897,710,000. EdgePoint Investment Group Inc. bought a new stake in shares of AON in the 2nd quarter worth approximately $168,407,000. Principal Financial Group Inc. lifted its holdings in shares of AON by 47.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,183,841 shares of the financial services provider’s stock worth $450,527,000 after acquiring an additional 705,937 shares during the last quarter. Viking Global Investors LP boosted its stake in shares of AON by 29.1% in the 2nd quarter. Viking Global Investors LP now owns 2,956,029 shares of the financial services provider’s stock valued at $569,331,000 after purchasing an additional 665,509 shares in the last quarter. Finally, Senator Investment Group LP grew its holdings in shares of AON by 276.9% during the 2nd quarter. Senator Investment Group LP now owns 750,000 shares of the financial services provider’s stock valued at $144,450,000 after purchasing an additional 551,000 shares during the last quarter. 88.53% of the stock is currently owned by hedge funds and other institutional investors.

AON traded down $1.61 during midday trading on Monday, hitting $204.97. 12,357 shares of the company traded hands, compared to its average volume of 1,528,083. The company’s 50-day moving average is $201.24 and its 200 day moving average is $198.25. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $47.57 billion, a PE ratio of 26.66 and a beta of 0.83. Aon Plc has a 52 week low of $143.93 and a 52 week high of $238.19.

AON (NYSE:AON) last released its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.04. AON had a net margin of 16.56% and a return on equity of 65.00%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Aon Plc will post 9.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 13th. Shareholders of record on Monday, November 2nd were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, October 30th. This is a positive change from AON’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 0.90%. AON’s payout ratio is currently 20.07%.

Several analysts have issued reports on AON shares. Piper Sandler lowered shares of AON from an “overweight” rating to a “neutral” rating and cut their price target for the company from $228.00 to $187.00 in a research report on Monday, November 2nd. Wells Fargo & Company restated a “buy” rating and set a $247.00 target price on shares of AON in a report on Friday, August 21st. Zacks Investment Research raised AON from a “sell” rating to a “hold” rating and set a $217.00 price target on the stock in a research note on Tuesday, October 6th. Morgan Stanley increased their price objective on AON from $216.00 to $221.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 24th. Finally, Raymond James downgraded shares of AON from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $212.75.

In other news, President Eric Andersen sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $197.46, for a total transaction of $987,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John G. Bruno acquired 1,000 shares of the stock in a transaction dated Friday, November 6th. The stock was acquired at an average price of $186.46 per share, for a total transaction of $186,460.00. Following the purchase, the chief operating officer now directly owns 69,685 shares in the company, valued at $12,993,465.10. The disclosure for this purchase can be found here. 0.92% of the stock is owned by corporate insiders.

AON Profile

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance solutions provider; and health solutions, such as health and benefits brokerages, and health care exchanges.

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Institutional Ownership by Quarter for AON (NYSE:AON)

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