Aon plc (NYSE:AON) Short Interest Down 10.9% in May

Aon plc (NYSE:AONGet Free Report) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,030,000 shares, a drop of 10.9% from the May 15th total of 3,400,000 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 1,370,000 shares, the short-interest ratio is presently 2.2 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AON. JPMorgan Chase & Co. upped their target price on shares of AON from $318.00 to $353.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler cut their price objective on shares of AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Bank of America lowered shares of AON from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $345.00 to $306.00 in a report on Wednesday, May 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of AON in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, AON presently has an average rating of “Hold” and an average price target of $321.86.

View Our Latest Analysis on AON

AON Price Performance

NYSE AON traded down $2.11 during trading hours on Tuesday, hitting $297.90. The company’s stock had a trading volume of 1,633,602 shares, compared to its average volume of 1,255,141. AON has a 12 month low of $268.06 and a 12 month high of $347.37. The company’s 50 day simple moving average is $291.83 and its two-hundred day simple moving average is $304.14. The company has a market cap of $64.77 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.91.

AON (NYSE:AONGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.17 earnings per share. As a group, research analysts predict that AON will post 15.48 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.91%. This is a boost from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Tuesday, April 30th. AON’s dividend payout ratio is presently 21.16%.

Insiders Place Their Bets

In other news, Director Lester B. Knight bought 10,000 shares of AON stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the acquisition, the director now owns 139,000 shares of the company’s stock, valued at $38,448,790. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.15% of the stock is currently owned by company insiders.

Institutional Trading of AON

Several large investors have recently modified their holdings of AON. Integrated Advisors Network LLC boosted its stake in shares of AON by 5.1% during the 3rd quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 32 shares during the last quarter. Signaturefd LLC lifted its position in AON by 1.8% during the fourth quarter. Signaturefd LLC now owns 2,149 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 38 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in AON by 3.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,246 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 38 shares during the period. Proficio Capital Partners LLC increased its position in AON by 3.9% in the first quarter. Proficio Capital Partners LLC now owns 1,016 shares of the financial services provider’s stock worth $339,000 after buying an additional 38 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of AON by 5.5% in the first quarter. Avantax Advisory Services Inc. now owns 729 shares of the financial services provider’s stock worth $243,000 after buying an additional 38 shares during the period. Institutional investors own 86.14% of the company’s stock.

About AON

(Get Free Report)

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.

Further Reading

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