California Public Employees Retirement System Cuts Stock Holdings in Aon plc $AON

California Public Employees Retirement System lessened its position in Aon plc (NYSE:AON) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 734,499 shares of the financial services provider’s stock after selling 95,513 shares during the quarter. California Public Employees Retirement System’s holdings in AON were worth $262,040,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC lifted its holdings in AON by 0.9% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 3,105 shares of the financial services provider’s stock valued at $1,108,000 after purchasing an additional 28 shares in the last quarter. Sunflower Bank N.A. raised its position in shares of AON by 1.8% in the second quarter. Sunflower Bank N.A. now owns 1,675 shares of the financial services provider’s stock valued at $598,000 after buying an additional 30 shares during the last quarter. MBL Wealth LLC lifted its stake in shares of AON by 2.1% in the first quarter. MBL Wealth LLC now owns 1,503 shares of the financial services provider’s stock worth $600,000 after buying an additional 31 shares in the last quarter. Focus Financial Network Inc. grew its stake in AON by 5.7% during the 2nd quarter. Focus Financial Network Inc. now owns 577 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 31 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in AON by 3.1% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,057 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 32 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Stock Down 0.9%

Shares of NYSE:AON opened at $344.66 on Friday. The company has a market capitalization of $74.08 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.97 and a beta of 0.84. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The business has a 50-day moving average price of $348.52 and a 200 day moving average price of $356.69. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.86.

AON (NYSE:AON) last announced its earnings results on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.14. AON had a net margin of 15.96% and a return on equity of 48.88%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.97 billion. AON’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.72 earnings per share. Sell-side analysts expect that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, November 3rd. AON’s dividend payout ratio (DPR) is 23.88%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AON. Cantor Fitzgerald upgraded AON to a “strong-buy” rating in a report on Wednesday, August 13th. Roth Capital reissued a “buy” rating and set a $390.00 price objective on shares of AON in a research note on Tuesday, November 4th. UBS Group cut their target price on AON from $400.00 to $390.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. JPMorgan Chase & Co. lowered their price target on shares of AON from $436.00 to $433.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Finally, Wells Fargo & Company reduced their target price on shares of AON from $451.00 to $448.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AON has an average rating of “Moderate Buy” and an average price target of $416.56.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.