PNC Financial Services Group Inc. Has $40.93 Million Position in Aon plc $AON

PNC Financial Services Group Inc. decreased its holdings in Aon plc (NYSE:AON) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,718 shares of the financial services provider’s stock after selling 2,084 shares during the quarter. PNC Financial Services Group Inc. owned 0.05% of AON worth $40,927,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in AON by 1.3% in the first quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider’s stock worth $7,893,382,000 after purchasing an additional 258,699 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of AON by 15.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,507,656 shares of the financial services provider’s stock valued at $1,251,391,000 after purchasing an additional 473,594 shares during the period. Polen Capital Management LLC raised its holdings in shares of AON by 318.1% in the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock worth $1,200,350,000 after buying an additional 2,288,397 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AON by 13.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,706,904 shares of the financial services provider’s stock worth $965,715,000 after buying an additional 316,333 shares during the period. Finally, Northern Trust Corp grew its position in AON by 6.1% in the first quarter. Northern Trust Corp now owns 2,290,619 shares of the financial services provider’s stock valued at $914,163,000 after acquiring an additional 131,676 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Trading Up 0.2%

Shares of NYSE AON opened at $350.68 on Friday. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The company has a 50-day moving average of $352.27 and a two-hundred day moving average of $357.52. The company has a market cap of $75.37 billion, a PE ratio of 29.37, a P/E/G ratio of 1.92 and a beta of 0.86. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93.

AON (NYSE:AON) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. AON had a net margin of 15.54% and a return on equity of 50.91%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the business posted $2.72 earnings per share. AON’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, November 3rd. AON’s dividend payout ratio is 23.88%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AON shares. Weiss Ratings cut AON from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Wells Fargo & Company cut their price target on shares of AON from $451.00 to $448.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. TD Cowen decreased their price objective on shares of AON from $419.00 to $416.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. UBS Group cut their target price on shares of AON from $400.00 to $390.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wolfe Research started coverage on AON in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $419.13.

AON Profile

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.