McAdam LLC Lowers Position in Aon plc (NYSE:AON)

McAdam LLC reduced its stake in shares of Aon plc (NYSE:AON) by 4.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,770 shares of the financial services provider’s stock after selling 121 shares during the period. McAdam LLC’s holdings in AON were worth $806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in AON by 1.1% in the third quarter. Lazard Asset Management LLC now owns 4,479,652 shares of the financial services provider’s stock valued at $1,452,390,000 after acquiring an additional 50,290 shares during the period. Mackenzie Financial Corp increased its holdings in AON by 8.3% in the fourth quarter. Mackenzie Financial Corp now owns 2,331,132 shares of the financial services provider’s stock valued at $678,406,000 after buying an additional 179,238 shares in the last quarter. Northern Trust Corp increased its stake in shares of AON by 0.8% in the 3rd quarter. Northern Trust Corp now owns 2,244,909 shares of the financial services provider’s stock valued at $727,844,000 after purchasing an additional 18,500 shares in the last quarter. FMR LLC grew its holdings in AON by 3.8% in the third quarter. FMR LLC now owns 1,523,946 shares of the financial services provider’s stock valued at $494,094,000 after purchasing an additional 55,703 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of AON by 0.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,311,515 shares of the financial services provider’s stock worth $425,219,000 after buying an additional 7,093 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AON shares. The Goldman Sachs Group cut their price target on shares of AON from $350.00 to $310.00 and set a “neutral” rating for the company in a report on Tuesday, January 9th. Morgan Stanley lifted their target price on shares of AON from $325.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. TD Cowen began coverage on shares of AON in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $390.00 price target on the stock. Keefe, Bruyette & Woods raised their target price on AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler reduced their target price on shares of AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, AON has a consensus rating of “Hold” and a consensus target price of $329.69.

AON Stock Down 1.4 %

Shares of AON stock opened at $281.07 on Tuesday. Aon plc has a 52-week low of $268.06 and a 52-week high of $347.37. The company has a market capitalization of $55.80 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.72 and a beta of 0.86. The company has a 50 day moving average of $316.50 and a 200 day moving average of $313.67.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.14 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $5.17 earnings per share. As a group, research analysts anticipate that Aon plc will post 15.82 earnings per share for the current fiscal year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.96%. This is an increase from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, April 30th. AON’s dividend payout ratio (DPR) is presently 19.28%.

Insider Transactions at AON

In other news, CFO Christa Davies sold 20,618 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the completion of the transaction, the chief financial officer now owns 159,570 shares in the company, valued at $49,690,098. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lester B. Knight acquired 50,000 shares of AON stock in a transaction dated Wednesday, February 7th. The shares were acquired at an average cost of $301.97 per share, for a total transaction of $15,098,500.00. Following the completion of the transaction, the director now directly owns 134,000 shares of the company’s stock, valued at $40,463,980. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christa Davies sold 20,618 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $311.40, for a total transaction of $6,420,445.20. Following the completion of the transaction, the chief financial officer now owns 159,570 shares in the company, valued at $49,690,098. The disclosure for this sale can be found here. Insiders have sold 74,532 shares of company stock valued at $23,335,805 in the last quarter. 1.15% of the stock is currently owned by corporate insiders.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.