Sustainable Growth Advisers LP decreased its stake in shares of Aon plc (NYSE:AON – Free Report) by 7.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,221,467 shares of the financial services provider’s stock after selling 95,897 shares during the quarter. AON accounts for 3.0% of Sustainable Growth Advisers LP’s portfolio, making the stock its 14th largest position. Sustainable Growth Advisers LP’s holdings in AON were worth $431,031,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of AON. NewEdge Advisors LLC increased its position in AON by 28.4% during the second quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after buying an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of AON by 9.1% during the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after purchasing an additional 8,216 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of AON by 35.2% during the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after purchasing an additional 76,061 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of AON by 27.1% during the second quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock worth $995,000 after purchasing an additional 583 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of AON by 46.1% during the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock worth $14,286,000 after purchasing an additional 12,631 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.
Analysts Set New Price Targets
AON has been the topic of several analyst reports. Citigroup raised their price objective on AON from $412.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. decreased their price objective on AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. TD Cowen restated a “buy” rating on shares of AON in a report on Monday, March 16th. UBS Group restated a “neutral” rating and set a $385.00 price objective on shares of AON in a report on Monday, February 2nd. Finally, Mizuho decreased their price objective on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, AON currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.81.
AON Price Performance
AON stock opened at $320.78 on Tuesday. The stock has a 50-day moving average price of $321.79 and a two-hundred day moving average price of $333.87. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The company has a market cap of $68.51 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.66 and a beta of 0.71.
AON (NYSE:AON – Get Free Report) last posted its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.67 earnings per share. As a group, research analysts predict that Aon plc will post 19.1 EPS for the current year.
AON Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.82 per share. This is a boost from AON’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, May 1st. AON’s payout ratio is presently 16.36%.
AON Company 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.
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