Kestra Advisory Services LLC Sells 3,393 Shares of Aon plc $AON

Kestra Advisory Services LLC reduced its position in Aon plc (NYSE:AON) by 17.9% during the first quarter, HoldingsChannel reports. The fund owned 15,553 shares of the financial services provider’s stock after selling 3,393 shares during the quarter. Kestra Advisory Services LLC’s holdings in AON were worth $5,020,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Watch Advisors INC purchased a new position in shares of AON in the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of AON during the 4th quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new stake in shares of AON during the 4th quarter valued at approximately $29,000. Eagle Bay Advisors LLC bought a new position in AON in the 4th quarter worth approximately $30,000. Finally, Strive Asset Management LLC purchased a new position in AON in the 3rd quarter valued at approximately $35,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Darren Zeidel sold 600 shares of AON stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the sale, the general counsel 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AON shares. Cantor Fitzgerald increased their target price on AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on AON from $396.00 to $412.00 and gave the company an “overweight” rating in a research report on Monday. Barclays boosted their price objective on AON from $372.00 to $382.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Piper Sandler downgraded AON from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $377.00 in a research note on Wednesday. Finally, Wells Fargo & Company reduced their target price on AON from $409.00 to $406.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, AON has an average rating of “Moderate Buy” and an average price target of $404.56.

AON Stock Down 1.0%

AON opened at $355.23 on Thursday. The firm has a market capitalization of $75.87 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71. Aon plc has a one year low of $304.59 and a one year high of $381.00. The company has a fifty day moving average price of $330.02 and a 200-day moving average price of $330.86. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON) last issued its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.67 earnings per share. Equities research analysts expect that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio (DPR) is presently 18.00%.

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.