Aon plc $AON Stock Position Trimmed by BloombergSen Inc.

BloombergSen Inc. lessened its stake in shares of Aon plc (NYSE:AON) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 262,750 shares of the financial services provider’s stock after selling 20,334 shares during the quarter. AON makes up approximately 6.8% of BloombergSen Inc.’s investment portfolio, making the stock its 6th biggest holding. BloombergSen Inc.’s holdings in AON were worth $92,719,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dodge & Cox bought a new position in shares of AON during the 3rd quarter worth $1,235,437,000. Viking Global Investors LP purchased a new position in shares of AON in the third quarter worth about $504,424,000. Balyasny Asset Management L.P. raised its stake in shares of AON by 40,219.8% in the third quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock worth $301,922,000 after purchasing an additional 844,615 shares during the last quarter. Independent Franchise Partners LLP raised its stake in shares of AON by 41.6% in the third quarter. Independent Franchise Partners LLP now owns 2,096,486 shares of the financial services provider’s stock worth $747,565,000 after purchasing an additional 615,570 shares during the last quarter. Finally, Strive Asset Management LLC purchased a new position in shares of AON in the third quarter worth about $142,986,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Trading Up 0.2%

NYSE:AON opened at $324.73 on Friday. The stock has a 50-day simple moving average of $321.84 and a 200-day simple moving average of $334.94. The stock has a market cap of $69.36 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.72 and a beta of 0.72. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00. 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 released its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.37 by $0.11. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.67 EPS. As a group, analysts anticipate that Aon plc will post 19.07 earnings per share for the current fiscal year.

AON Increases Dividend

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

Wall Street Analysts Forecast Growth

AON has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Thursday. Piper Sandler dropped their price objective on AON from $388.00 to $355.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Mizuho lowered their price target on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Barclays lowered their price target on AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reduced their target price on AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $396.00.

AON Company 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.