WCM Investment Management LLC Sells 33,749 Shares of Aon plc $AON

WCM Investment Management LLC decreased its holdings in Aon plc (NYSE:AON) by 1.7% during the first quarter, HoldingsChannel.com reports. The firm owned 1,952,379 shares of the financial services provider’s stock after selling 33,749 shares during the quarter. AON makes up about 1.4% of WCM Investment Management LLC’s holdings, making the stock its 27th biggest holding. WCM Investment Management LLC’s holdings in AON were worth $632,688,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock valued at $5,246,000 after buying an additional 3,253 shares during the period. Treasurer of the State of North Carolina increased its position in shares of AON by 9.1% during the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after acquiring an additional 8,216 shares during the period. Alliancebernstein L.P. raised its stake in shares of AON by 35.2% during the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock valued at $104,249,000 after acquiring an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC raised its stake in shares of AON by 27.1% during the second quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock valued at $995,000 after acquiring an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of AON by 46.1% in the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after purchasing an additional 12,631 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AON news, General Counsel Darren Zeidel sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total value of $216,000.00. Following the completion of the sale, the general counsel directly owned 15,354 shares in the company, valued at $5,527,440. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

AON Price Performance

Shares of AON stock opened at $366.69 on Monday. The stock’s 50-day moving average is $332.19 and its 200 day moving average is $331.02. 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 current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $78.32 billion, a P/E ratio of 20.13, a PEG ratio of 1.92 and a beta of 0.71.

AON (NYSE:AON) last announced its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the company posted $5.67 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Research analysts predict that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s payout ratio is 18.00%.

Analysts Set New Price Targets

AON has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. UBS Group raised their price target on AON from $360.00 to $383.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Citigroup increased their target price on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods dropped their price objective on shares of AON from $404.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. Finally, Morgan Stanley boosted their price objective on shares of AON from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, AON currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.56.

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.