Gibbs Wealth Management Sells 2,426 Shares of Aon plc $AON

Gibbs Wealth Management lowered its holdings in Aon plc (NYSE:AON) by 30.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,530 shares of the financial services provider’s stock after selling 2,426 shares during the period. Gibbs Wealth Management’s holdings in AON were worth $1,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AON. Vanguard Group Inc. increased its position in shares of AON by 2.6% in the second quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock valued at $7,238,569,000 after acquiring an additional 511,292 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of AON by 3.2% in the second quarter. Geode Capital Management LLC now owns 5,588,279 shares of the financial services provider’s stock valued at $1,987,961,000 after buying an additional 173,722 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in AON by 15.6% during the second quarter. Bank of New York Mellon Corp now owns 3,507,656 shares of the financial services provider’s stock worth $1,251,391,000 after buying an additional 473,594 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in AON by 13.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,706,904 shares of the financial services provider’s stock valued at $965,715,000 after acquiring an additional 316,333 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of AON by 1.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,176,045 shares of the financial services provider’s stock valued at $776,326,000 after acquiring an additional 40,213 shares during the period. 86.14% of the stock is owned by institutional investors.

AON Stock Up 0.8%

NYSE AON opened at $338.56 on Friday. The company has a market cap of $72.77 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.70 and a beta of 0.84. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.86. The company has a 50 day moving average of $348.67 and a 200-day moving average of $354.35.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.97 billion. AON had a return on equity of 48.88% and a net margin of 15.96%.The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $2.72 EPS. On average, equities research analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, February 2nd. AON’s dividend payout ratio is presently 23.88%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $400.00 target price on shares of AON in a research note on Tuesday, December 16th. UBS Group reduced their target price on AON from $400.00 to $390.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Evercore ISI reaffirmed an “outperform” rating and set a $436.00 price target on shares of AON in a report on Wednesday, January 7th. TD Cowen cut their target price on shares of AON from $419.00 to $416.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Roth Mkm reissued a “buy” rating and issued a $390.00 price target on shares of AON in a report on Tuesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $408.47.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.