Lazard Asset Management LLC cut its position in Aon plc (NYSE:AON – Free Report) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217,243 shares of the financial services provider’s stock after selling 68,829 shares during the period. Lazard Asset Management LLC owned about 0.57% of AON worth $392,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the company. Wealth Watch Advisors INC bought a new stake in AON during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of AON in the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. bought a new position in shares of AON in the fourth quarter worth about $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of AON during the fourth quarter worth about $30,000. Finally, Strive Asset Management LLC purchased a new position in AON in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.
Insider Activity at AON
In related news, General Counsel Darren Zeidel sold 600 shares of AON stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total value of $216,000.00. Following the completion of the transaction, the general counsel owned 15,354 shares in the company, valued at approximately $5,527,440. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Research Report on AON
AON Stock Down 0.1%
NYSE AON opened at $361.26 on Monday. The stock has a 50 day moving average price of $336.57 and a 200-day moving average price of $331.24. Aon plc has a one year low of $304.59 and a one year high of $381.00. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $77.16 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.89 and a beta of 0.71.
AON (NYSE:AON – Get Free Report) last announced its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The company had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the business posted $5.67 earnings per share. AON’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that Aon plc will post 19.09 EPS for the current fiscal year.
AON Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s dividend payout ratio is currently 18.00%.
About AON
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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