Sumitomo Mitsui Trust Group Inc. Lowers Stake in Aon plc $AON

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Aon plc (NYSE:AON) by 5.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 447,301 shares of the financial services provider’s stock after selling 23,601 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of AON worth $144,380,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its holdings in shares of AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after purchasing an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in AON by 9.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after buying an additional 8,216 shares during the last quarter. Alliancebernstein L.P. boosted its stake in AON by 35.2% in the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after buying an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC grew its position in AON by 27.1% during the second quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock valued at $995,000 after acquiring an additional 583 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in AON by 46.1% during the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after acquiring an additional 12,631 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AON has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on shares of AON from $360.00 to $355.00 and set an “overweight” rating for the company in a report on Monday, June 15th. Mizuho lifted their target price on shares of AON from $389.00 to $426.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of AON from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday. TD Cowen reaffirmed a “buy” rating on shares of AON in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. decreased their price objective on AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $402.19.

Key AON News

Here are the key news stories impacting AON this week:

• Positive Sentiment: Mizuho raised its price target on Aon to $426 from $389 and reiterated an outperform rating, signaling confidence in further upside for the stock. Mizuho raises Aon price target
• Positive Sentiment: Wells Fargo kept an overweight rating and nudged its target to $406 from $409, indicating analysts still see meaningful upside despite the small cut. Wells Fargo adjusts Aon target
• Positive Sentiment: Keefe, Bruyette & Woods also maintained an outperform rating, trimming its target only slightly to $400 from $404, which suggests the broader analyst view remains constructive. KBW adjusts Aon target
• Neutral Sentiment: Aon announced leadership changes in its specialty risk and reinsurance businesses, including new appointments and a revised UK and Ireland reinsurance structure, which may support longer-term execution but is not likely to move the stock immediately. Aon appoints Bob Reville and Eric Foster
• Negative Sentiment: Aon General Counsel Darren Zeidel sold 600 shares at $360 each, a routine insider transaction that can still be read as a mild negative signal by investors. SEC insider filing for Darren Zeidel sale

Insiders Place Their Bets

In other news, General Counsel Darren Zeidel sold 600 shares of AON stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total value of $216,000.00. Following the sale, the general counsel directly owned 15,354 shares in the company, valued at approximately $5,527,440. This trade represents a 3.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

AON Stock Performance

Shares of NYSE:AON opened at $355.20 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $326.39 and a 200-day moving average price of $330.77. The company has a market cap of $75.86 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.88 and a beta of 0.71. Aon plc has a 12 month low of $304.59 and a 12 month high of $381.00.

AON (NYSE:AON) last posted its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same period last year, the firm earned $5.67 earnings per share. AON’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts anticipate that Aon plc will post 19.09 EPS for the current year.

About AON

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.