Rafferty Asset Management LLC Has $18.04 Million Stock Holdings in Aon plc (NYSE:AON)

Rafferty Asset Management LLC decreased its position in shares of Aon plc (NYSE:AONGet Rating) by 39.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 66,876 shares of the financial services provider’s stock after selling 43,181 shares during the quarter. Rafferty Asset Management LLC’s holdings in AON were worth $18,035,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cibc World Market Inc. lifted its stake in shares of AON by 7.3% in the 1st quarter. Cibc World Market Inc. now owns 34,670 shares of the financial services provider’s stock valued at $11,290,000 after purchasing an additional 2,357 shares during the period. Baird Financial Group Inc. lifted its stake in shares of AON by 16.2% in the 2nd quarter. Baird Financial Group Inc. now owns 33,057 shares of the financial services provider’s stock valued at $8,915,000 after purchasing an additional 4,606 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of AON by 67.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 280,962 shares of the financial services provider’s stock valued at $91,490,000 after purchasing an additional 113,335 shares during the period. Waldron Private Wealth LLC lifted its stake in shares of AON by 11.1% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,916 shares of the financial services provider’s stock valued at $786,000 after purchasing an additional 291 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of AON by 7.3% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,340 shares of the financial services provider’s stock valued at $2,064,000 after purchasing an additional 434 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AON shares. StockNews.com started coverage on AON in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James downgraded AON from a “market perform” rating to an “underperform” rating in a research note on Monday, October 31st. Morgan Stanley raised their price objective on AON from $250.00 to $255.00 and gave the stock an “underweight” rating in a research note on Tuesday. Wells Fargo & Company increased their target price on AON from $302.00 to $304.00 and gave the stock an “equal weight” rating in a report on Monday, October 31st. Finally, Bank of America initiated coverage on AON in a report on Monday, September 19th. They set a “neutral” rating and a $294.00 target price for the company. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $291.00.

AON Stock Up 0.1 %

Shares of NYSE AON traded up $0.45 during mid-day trading on Thursday, hitting $304.24. The company had a trading volume of 493,140 shares, compared to its average volume of 785,511. The company has a market capitalization of $62.93 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87. The firm has a 50-day simple moving average of $281.58 and a two-hundred day simple moving average of $278.72. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 12.27. Aon plc has a one year low of $246.21 and a one year high of $341.98.

AON (NYSE:AONGet Rating) last issued its earnings results on Friday, October 28th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.01. AON had a net margin of 22.49% and a return on equity of 445.81%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the business posted $1.74 EPS. AON’s revenue was down .2% on a year-over-year basis. On average, equities analysts expect that Aon plc will post 13.13 EPS for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were paid a $0.56 dividend. The ex-dividend date was Monday, October 31st. This represents a $2.24 annualized dividend and a yield of 0.74%. AON’s dividend payout ratio (DPR) is currently 17.39%.

AON Profile

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Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.

See Also

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Institutional Ownership by Quarter for AON (NYSE:AON)

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