Aon plc $AON Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC trimmed its position in Aon plc (NYSE:AON) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,985 shares of the financial services provider’s stock after selling 85 shares during the quarter. Ellis Investment Partners LLC’s holdings in AON were worth $1,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of AON by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider’s stock valued at $7,893,382,000 after purchasing an additional 258,699 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AON by 18.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider’s stock valued at $1,210,864,000 after purchasing an additional 469,238 shares in the last quarter. Polen Capital Management LLC raised its holdings in shares of AON by 318.1% in the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock valued at $1,200,350,000 after purchasing an additional 2,288,397 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of AON by 2.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider’s stock valued at $954,053,000 after purchasing an additional 61,350 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of AON by 6.1% in the 1st quarter. Northern Trust Corp now owns 2,290,619 shares of the financial services provider’s stock valued at $914,163,000 after purchasing an additional 131,676 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Down 0.2%

Shares of NYSE AON opened at $359.82 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. The firm has a 50-day moving average price of $364.41 and a 200 day moving average price of $362.53. The stock has a market capitalization of $77.59 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89.

AON (NYSE:AON) last announced its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the business earned $2.93 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.745 per share. The ex-dividend date is Monday, November 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. AON’s payout ratio is presently 24.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Jefferies Financial Group raised shares of AON from a “hold” rating to a “buy” rating and increased their target price for the company from $400.00 to $426.00 in a research report on Wednesday, July 30th. Weiss Ratings restated a “buy (b-)” rating on shares of AON in a research note on Wednesday, October 8th. Evercore ISI raised their target price on shares of AON from $421.00 to $427.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Piper Sandler raised their target price on shares of AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Citigroup assumed coverage on shares of AON in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $402.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $420.00.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.