Bruce G. Allen Investments LLC Decreases Stock Position in Aon plc $AON

Bruce G. Allen Investments LLC cut its stake in shares of Aon plc (NYSE:AON) by 43.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102 shares of the financial services provider’s stock after selling 78 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in AON were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AON. Portside Wealth Group LLC increased its stake in shares of AON by 530.6% in the first quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider’s stock worth $4,412,000 after buying an additional 9,302 shares during the period. WCM Investment Management LLC increased its position in shares of AON by 0.3% in the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock valued at $809,544,000 after acquiring an additional 6,038 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of AON by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider’s stock valued at $11,183,000 after acquiring an additional 1,489 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of AON by 425.3% during the first quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider’s stock worth $761,000 after purchasing an additional 1,544 shares during the period. Finally, Ninety One North America Inc. increased its holdings in AON by 64.4% during the 1st quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider’s stock valued at $2,986,000 after purchasing an additional 2,932 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Trading Up 0.4%

Shares of NYSE:AON opened at $358.07 on Thursday. Aon plc has a 52-week low of $323.73 and a 52-week high of $412.97. The stock has a market capitalization of $77.21 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.11 and a beta of 0.87. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s 50-day simple moving average is $364.16 and its two-hundred day simple moving average is $367.63.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Analysts expect that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 1st. AON’s payout ratio is 24.96%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $438.00 price objective (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. Jefferies Financial Group upgraded shares of AON from a “hold” rating to a “buy” rating and lifted their price target for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. Wolfe Research initiated coverage on shares of AON in a report on Monday. They issued a “peer perform” rating for the company. Morgan Stanley raised shares of AON from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $430.00 in a research note on Thursday, September 11th. Finally, TD Cowen decreased their price target on shares of AON from $427.00 to $419.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $414.69.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.