Overbrook Management Corp Trims Stake in Aon PLC (AON)
Overbrook Management Corp cut its stake in shares of Aon PLC (NYSE:AON) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,850 shares of the financial services provider’s stock after selling 630 shares during the quarter. Overbrook Management Corp’s holdings in Aon PLC were worth $512,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AON. Parallel Advisors LLC increased its position in shares of Aon PLC by 16.7% during the second quarter. Parallel Advisors LLC now owns 740 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 106 shares during the period. FNY Partners Fund LP purchased a new position in shares of Aon PLC during the first quarter worth approximately $106,000. Fiduciary Trust Co. purchased a new position in shares of Aon PLC during the second quarter worth approximately $108,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Aon PLC during the second quarter worth approximately $126,000. Finally, Hanson McClain Inc. purchased a new position in shares of Aon PLC during the second quarter worth approximately $200,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. Deutsche Bank AG raised their target price on shares of Aon PLC from $113.00 to $123.00 and gave the stock a “hold” rating in a research report on Wednesday, August 9th. BidaskClub lowered shares of Aon PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating on shares of Aon PLC in a research report on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $143.00 target price on shares of Aon PLC in a research report on Sunday, August 6th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Aon PLC in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $139.00.
Aon PLC (NYSE AON) traded down 0.23% during trading on Wednesday, hitting $142.56. 317,446 shares of the stock were exchanged. Aon PLC has a 12 month low of $107.19 and a 12 month high of $144.81. The stock’s 50 day moving average price is $138.95 and its 200 day moving average price is $128.87. The stock has a market cap of $36.26 billion, a P/E ratio of 20.82 and a beta of 1.02.
Aon PLC (NYSE:AON) last announced its quarterly earnings data on Friday, August 4th. The financial services provider reported $1.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.45. Aon PLC had a net margin of 17.28% and a return on equity of 32.62%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the firm posted $1.39 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts forecast that Aon PLC will post $6.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, July 28th. Aon PLC’s dividend payout ratio is presently 20.48%.
In other Aon PLC news, CEO Michael J. O’connor sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $140.28, for a total value of $1,402,800.00. Following the sale, the chief executive officer now directly owns 123,805 shares of the company’s stock, valued at approximately $17,367,365.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.
Aon PLC Profile
Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.
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