Aon PLC (AON) Position Trimmed by M&T Bank Corp
M&T Bank Corp decreased its holdings in shares of Aon PLC (NYSE:AON) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,555 shares of the financial services provider’s stock after selling 2,531 shares during the quarter. M&T Bank Corp’s holdings in AON were worth $3,133,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Baird Financial Group Inc. acquired a new position in AON during the third quarter worth approximately $333,000. Rehmann Capital Advisory Group increased its holdings in shares of AON by 15,302.0% in the third quarter. Rehmann Capital Advisory Group now owns 98,265 shares of the financial services provider’s stock valued at $639,000 after purchasing an additional 97,627 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of AON in the fourth quarter valued at approximately $6,045,000. Advanced Asset Management Advisors Inc acquired a new position in shares of AON in the third quarter valued at approximately $601,000. Finally, Credit Suisse AG increased its holdings in shares of AON by 9.1% in the third quarter. Credit Suisse AG now owns 390,822 shares of the financial services provider’s stock valued at $60,101,000 after purchasing an additional 32,663 shares during the period. Hedge funds and other institutional investors own 86.58% of the company’s stock.
AON has been the topic of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of AON in a report on Friday, February 1st. Compass Point initiated coverage on AON in a report on Tuesday, January 15th. They set a “buy” rating and a $195.00 price objective on the stock. MKM Partners raised AON from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $155.00 to $200.00 in a report on Monday, February 4th. ValuEngine lowered AON from a “buy” rating to a “hold” rating in a report on Wednesday, December 26th. Finally, Keefe, Bruyette & Woods lowered AON from an “outperform” rating to a “market perform” rating in a report on Thursday, December 13th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $169.10.
AON (NYSE:AON) last released its earnings results on Friday, February 1st. The financial services provider reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.03. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.82 billion. AON had a return on equity of 43.49% and a net margin of 10.53%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 earnings per share. On average, equities analysts anticipate that Aon PLC will post 9.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $1.60 annualized dividend and a yield of 0.95%. AON’s payout ratio is currently 19.61%.
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AON Company Profile
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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