Sterling Capital Management LLC Reduces Stock Holdings in Aon plc $AON

Sterling Capital Management LLC lowered its holdings in shares of Aon plc (NYSE:AON) by 40.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,838 shares of the financial services provider’s stock after selling 3,313 shares during the quarter. Sterling Capital Management LLC’s holdings in AON were worth $1,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in AON during the fourth quarter valued at approximately $4,305,000. SG Americas Securities LLC boosted its stake in shares of AON by 1,640.4% during the 4th quarter. SG Americas Securities LLC now owns 143,163 shares of the financial services provider’s stock worth $50,519,000 after acquiring an additional 134,937 shares during the last quarter. Bowie Capital Management LLC increased its stake in shares of AON by 31.0% in the 3rd quarter. Bowie Capital Management LLC now owns 356,887 shares of the financial services provider’s stock worth $127,259,000 after purchasing an additional 84,446 shares in the last quarter. Aviva PLC raised its holdings in AON by 2.0% in the 4th quarter. Aviva PLC now owns 333,454 shares of the financial services provider’s stock worth $117,669,000 after purchasing an additional 6,622 shares during the period. Finally, TABR Capital Management LLC bought a new position in AON in the 4th quarter worth $1,278,000. Institutional investors own 86.14% of the company’s stock.

AON Trading Down 0.5%

Shares of AON stock opened at $327.07 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a fifty day simple moving average of $322.36 and a two-hundred day simple moving average of $330.65. The firm has a market capitalization of $69.85 billion, a PE ratio of 17.95, a PEG ratio of 1.73 and a beta of 0.71. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00.

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 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 business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the business earned $5.67 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Aon plc will post 19.09 EPS for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.74. AON’s dividend payout ratio is currently 18.00%.

Analyst Upgrades and Downgrades

AON has been the subject of several recent research reports. TD Cowen reissued a “buy” rating on shares of AON in a report on Monday, March 16th. Citigroup raised their price objective on AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Barclays cut their price objective on AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. UBS Group reduced their target price on shares of AON from $385.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Finally, Mizuho lowered their price target on shares of AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $394.94.

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.