Sumitomo Life Insurance Co. Sells 2,143 Shares of Aon plc $AON

Sumitomo Life Insurance Co. decreased its holdings in Aon plc (NYSE:AON) by 70.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 913 shares of the financial services provider’s stock after selling 2,143 shares during the period. Sumitomo Life Insurance Co.’s holdings in AON were worth $326,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new position in shares of AON in the 1st quarter valued at about $28,000. Saudi Central Bank bought a new position in shares of AON in the 1st quarter valued at about $31,000. Pinnacle Bancorp Inc. lifted its holdings in shares of AON by 56.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 33 shares during the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of AON in the 2nd quarter valued at about $32,000. Finally, HHM Wealth Advisors LLC lifted its stake in AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AON. Wells Fargo & Company decreased their price objective on shares of AON from $451.00 to $448.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Barclays reissued an “overweight” rating and issued a $420.00 price objective (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Citigroup raised shares of AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on shares of AON from $436.00 to $433.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Finally, Jefferies Financial Group raised shares of AON from a “hold” rating to a “buy” rating and raised their price objective for the stock from $400.00 to $426.00 in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $423.21.

AON Stock Performance

Shares of NYSE:AON opened at $339.63 on Tuesday. The firm has a market cap of $73.23 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.92 and a beta of 0.89. The firm’s 50 day simple moving average is $356.07 and its 200-day simple moving average is $358.28. Aon plc has a one year low of $323.73 and a one year high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52.

AON (NYSE:AON) last issued its earnings results on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.97 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $2.72 earnings per share. As a group, equities analysts predict that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 3rd. AON’s dividend payout ratio (DPR) is presently 23.88%.

AON 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.