State of Alaska Department of Revenue Sells 2,205 Shares of Aon plc $AON

State of Alaska Department of Revenue lowered its holdings in Aon plc (NYSE:AON) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,065 shares of the financial services provider’s stock after selling 2,205 shares during the period. State of Alaska Department of Revenue’s holdings in AON were worth $9,550,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its holdings in AON by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Wealth Watch Advisors INC bought a new stake in AON in the 3rd quarter valued at about $25,000. Heartwood Wealth Advisors LLC bought a new stake in shares of AON during the 3rd quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new stake in shares of AON during the 3rd quarter worth approximately $31,000. Finally, Strive Asset Management LLC bought a new stake in shares of AON during the 3rd quarter worth approximately $35,000. Institutional investors own 86.14% of the company’s stock.

AON Price Performance

Shares of NYSE:AON opened at $325.41 on Tuesday. The company has a market cap of $69.72 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.72 and a beta of 0.83. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $325.66 and a 200 day simple moving average of $340.28. Aon plc has a one year low of $304.59 and a one year high of $387.69.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.75 by $0.10. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.42 EPS. Research analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.75. AON’s payout ratio is currently 17.51%.

Insider Activity at AON

In related news, General Counsel Darren Zeidel sold 5,040 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total value of $1,641,981.60. Following the completion of the transaction, the general counsel owned 20,254 shares of the company’s stock, valued at $6,598,550.66. This represents a 19.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lester B. Knight acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average cost of $319.24 per share, with a total value of $1,276,960.00. Following the purchase, the director owned 143,000 shares in the company, valued at $45,651,320. The trade was a 2.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AON. Mizuho cut their price target on shares of AON from $397.00 to $394.00 and set an “outperform” rating for the company in a report on Monday. TD Cowen reaffirmed a “buy” rating on shares of AON in a report on Monday, March 16th. Barclays cut their price target on shares of AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Wells Fargo & Company cut their price target on shares of AON from $443.00 to $402.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, The Goldman Sachs Group set a $395.00 price target on shares of AON in a report on Wednesday, January 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $401.81.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.