Cary Street Partners Financial LLC Reduces Position in Aon plc (NYSE:AON)

Cary Street Partners Financial LLC trimmed its holdings in shares of Aon plc (NYSE:AON) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,832 shares of the financial services provider’s stock after selling 154 shares during the period. Cary Street Partners Financial LLC’s holdings in AON were worth $3,525,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AON. Financial Gravity Asset Management Inc. purchased a new stake in AON in the 1st quarter worth $28,000. HHM Wealth Advisors LLC grew its holdings in shares of AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 29 shares during the period. Tsfg LLC purchased a new stake in shares of AON in the first quarter valued at about $37,000. Accent Capital Management LLC purchased a new stake in shares of AON in the first quarter valued at about $40,000. Finally, Garde Capital Inc. acquired a new position in AON in the first quarter valued at about $42,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AON shares. JPMorgan Chase & Co. increased their price target on shares of AON from $394.00 to $409.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. The Goldman Sachs Group raised shares of AON from a “neutral” rating to a “buy” rating and set a $408.00 target price on the stock in a report on Tuesday, May 13th. Barclays reiterated an “overweight” rating and issued a $420.00 price target (up from $401.00) on shares of AON in a research note on Thursday, July 31st. Keefe, Bruyette & Woods dropped their price target on shares of AON from $414.00 to $409.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $438.00 price target (up from $436.00) on shares of AON in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $409.21.

AON Price Performance

Shares of NYSE AON opened at $361.78 on Wednesday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a fifty day moving average price of $358.07 and a 200 day moving average price of $370.73. Aon plc has a 1-year low of $323.31 and a 1-year high of $412.97. The company has a market cap of $78.01 billion, a PE ratio of 30.30, a P/E/G ratio of 2.14 and a beta of 0.83.

AON (NYSE:AON) last released its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the company earned $2.93 earnings per share. AON’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 1st. AON’s payout ratio is 24.96%.

AON Company Profile

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.