Moore Capital Management LP trimmed its holdings in shares of Aon plc (NYSE:AON – Free Report) by 34.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,600 shares of the financial services provider’s stock after selling 72,592 shares during the quarter. AON accounts for about 0.7% of Moore Capital Management LP’s portfolio, making the stock its 17th largest position. Moore Capital Management LP’s holdings in AON were worth $49,262,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AON. Wealth Watch Advisors INC purchased a new stake in AON during the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in AON during the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new stake in AON during the 4th quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new stake in AON during the 4th quarter valued at about $30,000. Finally, Strive Asset Management LLC purchased a new stake in AON during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on AON shares. UBS Group dropped their price target on AON from $385.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday. TD Cowen reiterated a “buy” rating on shares of AON in a research note on Monday, March 16th. Keefe, Bruyette & Woods lowered their target price on AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Barclays lowered their target price on AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Citigroup upped their target price on AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $394.94.
AON Stock Down 1.3%
Shares of AON opened at $327.00 on Thursday. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $69.84 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.74 and a beta of 0.71. The stock’s 50-day moving average price is $322.99 and its 200-day moving average price is $332.11.
AON (NYSE:AON – Get Free Report) last released its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.AON’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.67 EPS. On average, sell-side analysts predict that Aon plc will post 19.09 EPS for the current year.
AON Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.75. AON’s payout ratio is currently 18.00%.
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.
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