Aon plc $AON Stake Lowered by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its stake in shares of Aon plc (NYSE:AON) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,523 shares of the financial services provider’s stock after selling 4,239 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in AON were worth $20,299,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of AON during the fourth quarter valued at approximately $4,305,000. Callan Family Office LLC grew its holdings in shares of AON by 220.7% during the third quarter. Callan Family Office LLC now owns 11,675 shares of the financial services provider’s stock valued at $4,163,000 after purchasing an additional 8,034 shares during the last quarter. Caprock Group LLC bought a new position in shares of AON during the third quarter valued at approximately $1,752,000. Veritas Asset Management LLP grew its holdings in shares of AON by 19.3% during the third quarter. Veritas Asset Management LLP now owns 2,053,673 shares of the financial services provider’s stock valued at $732,299,000 after purchasing an additional 332,685 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in shares of AON by 64.9% during the third quarter. Savant Capital LLC now owns 19,092 shares of the financial services provider’s stock valued at $6,808,000 after purchasing an additional 7,512 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

AON Price Performance

Shares of NYSE:AON opened at $323.44 on Wednesday. Aon plc has a one year low of $304.59 and a one year high of $381.00. The stock has a fifty day moving average of $321.85 and a 200-day moving average of $335.18. The company has a market capitalization of $69.08 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the prior year, the firm earned $5.67 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Aon plc will post 19.07 EPS for the current fiscal year.

AON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.82 per share. This is a boost from AON’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. AON’s payout ratio is currently 16.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler reduced their price objective on AON from $388.00 to $355.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. JPMorgan Chase & Co. reduced their price objective on AON from $406.00 to $396.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wells Fargo & Company reduced their price objective on AON from $443.00 to $402.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Bank of America upgraded AON from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $398.00 to $397.00 in a research report on Friday, February 27th. Finally, Mizuho reduced their price objective on AON from $394.00 to $389.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $397.88.

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.