TIAA CREF Investment Management LLC Trims Stake in Aon PLC (AON)
TIAA CREF Investment Management LLC cut its holdings in Aon PLC (NYSE:AON) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 440,703 shares of the financial services provider’s stock after selling 122,924 shares during the period. TIAA CREF Investment Management LLC owned about 0.17% of Aon PLC worth $58,591,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC increased its holdings in shares of Aon PLC by 16.7% in the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the financial services provider’s stock worth $102,000 after buying an additional 106 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Aon PLC in the 2nd quarter worth about $108,000. FNY Partners Fund LP bought a new stake in shares of Aon PLC in the 1st quarter worth about $106,000. Pinnacle Financial Partners Inc. bought a new stake in shares of Aon PLC in the 2nd quarter worth about $126,000. Finally, Hanson McClain Inc. bought a new stake in shares of Aon PLC in the 2nd quarter worth about $200,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.
AON has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Aon PLC from a “hold” rating to a “buy” rating and set a $146.00 target price on the stock in a report on Tuesday, May 30th. Jefferies Group LLC restated a “buy” rating and issued a $146.00 target price on shares of Aon PLC in a report on Friday, June 16th. Janney Montgomery Scott downgraded shares of Aon PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. Langen Mcalenn downgraded shares of Aon PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. Finally, Credit Suisse Group set a $133.00 target price on shares of Aon PLC and gave the stock a “sell” rating in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Aon PLC currently has an average rating of “Hold” and a consensus price target of $139.00.
Aon PLC (NYSE:AON) opened at 144.05 on Tuesday. The company’s 50 day moving average is $139.58 and its 200-day moving average is $129.83. Aon PLC has a 1-year low of $107.19 and a 1-year high of $144.81. The stock has a market capitalization of $36.64 billion, a PE ratio of 21.04 and a beta of 1.02.
Aon PLC (NYSE:AON) last released its quarterly earnings data on Friday, August 4th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.45. Aon PLC had a net margin of 17.28% and a return on equity of 32.62%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the business earned $1.39 earnings per share. Aon PLC’s revenue was up 3.8% compared to the same quarter last year. Analysts forecast that Aon PLC will post $6.50 earnings per share for the current fiscal year.
In related news, CEO Michael J. O’connor sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $140.28, for a total transaction of $1,402,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,805 shares in the company, valued at $17,367,365.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.
Aon PLC Company 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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