Aon plc $AON Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its position in Aon plc (NYSE:AON) by 6.9% during the fourth quarter, according to its most recent disclosure 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy Middleton Hinkle & Parker Inc. acquired a new position in AON in the fourth quarter valued at $4,305,000. Callan Family Office LLC lifted its stake 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 worth $4,163,000 after purchasing an additional 8,034 shares in the last quarter. Caprock Group LLC acquired a new position in shares of AON during the third quarter worth about $1,752,000. Veritas Asset Management LLP lifted its stake 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 worth $732,299,000 after purchasing an additional 332,685 shares in the last quarter. Finally, Savant Capital LLC lifted its stake 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 worth $6,808,000 after purchasing an additional 7,512 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AON has been the topic of a number of recent research reports. TD Cowen restated a “buy” rating on shares of AON in a research note on Monday, March 16th. 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 note on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and set a $408.00 price objective on shares of AON in a research note on Monday, February 2nd. Mizuho reduced their price objective on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AON in a research note on Tuesday, April 21st. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AON presently has a consensus rating of “Moderate Buy” and a consensus price target of $397.88.

AON Stock Down 1.0%

Shares of AON stock opened at $323.44 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm has a market cap of $69.08 billion, a P/E ratio of 17.75, a P/E/G ratio of 1.73 and a beta of 0.72. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The business has a 50-day moving average price of $321.85 and a 200 day moving average price of $335.18.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.37 by $0.11. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.AON’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.67 earnings per share. On average, sell-side analysts forecast that Aon plc will post 19.07 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.82 dividend. This is an increase from AON’s previous quarterly dividend of $0.75. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. AON’s dividend payout ratio is presently 16.36%.

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.