Scharf Investments LLC Sells 11,977 Shares of Aon plc $AON

Scharf Investments LLC lessened its stake in shares of Aon plc (NYSE:AON) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 208,111 shares of the financial services provider’s stock after selling 11,977 shares during the period. AON comprises about 2.0% of Scharf Investments LLC’s holdings, making the stock its 26th biggest position. Scharf Investments LLC’s holdings in AON were worth $73,444,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Matrix Trust Co increased its stake in shares of AON by 7.1% during the 3rd quarter. Matrix Trust Co now owns 422 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 28 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in AON by 1.5% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock valued at $683,000 after purchasing an additional 29 shares during the last quarter. Kathmere Capital Management LLC increased its position in AON by 2.1% in the fourth quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock worth $558,000 after buying an additional 32 shares during the last quarter. Busey Bank increased its position in AON by 0.3% in the third quarter. Busey Bank now owns 9,565 shares of the financial services provider’s stock worth $3,411,000 after buying an additional 33 shares during the last quarter. Finally, Westpac Banking Corp lifted its position in shares of AON by 5.6% during the 3rd quarter. Westpac Banking Corp now owns 620 shares of the financial services provider’s stock valued at $221,000 after buying an additional 33 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AON

In other AON news, Director Lester B. Knight purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average price of $319.24 per share, for a total transaction of $1,276,960.00. Following the transaction, the director owned 143,000 shares in the company, valued at $45,651,320. The trade was a 2.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Darren Zeidel sold 5,040 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the completion of the transaction, the general counsel owned 20,254 shares in the company, valued at approximately $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

AON Trading Down 0.4%

Shares of AON stock opened at $322.62 on Wednesday. The company’s 50-day moving average price is $328.50 and its 200-day moving average price is $342.27. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.55. Aon plc has a 12-month low of $304.59 and a 12-month high of $401.03. The company has a market cap of $69.12 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.77 and a beta of 0.82.

AON (NYSE:AON) last posted its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.10. AON had a net margin of 21.51% and a return on equity of 45.23%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the prior year, the firm posted $4.42 EPS. AON’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, February 2nd. AON’s dividend payout ratio (DPR) is 17.51%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald lifted their price objective on AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Wells Fargo & Company cut their target price on shares of AON from $448.00 to $443.00 and set an “overweight” rating for the company in a research report on Sunday, February 1st. Citigroup upped their price target on shares of AON from $402.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Mizuho upgraded shares of AON from a “neutral” rating to an “outperform” rating and set a $397.00 price objective for the company in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. dropped their target price on AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, AON currently has an average rating of “Moderate Buy” and a consensus price target of $406.69.

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.