Olstein Capital Management L.P. cut its position in shares of Aon PLC (NYSE:AON) by 14.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,000 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in AON were worth $4,439,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in AON. Lazard Asset Management LLC grew its position in AON by 12.3% during the first quarter. Lazard Asset Management LLC now owns 9,299,944 shares of the financial services provider’s stock worth $1,587,498,000 after buying an additional 1,017,180 shares in the last quarter. Ronna Sue Cohen boosted its holdings in AON by 17,002.4% during the first quarter. Ronna Sue Cohen now owns 831,346 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 826,485 shares in the last quarter. Ellis Investment Partners LLC boosted its holdings in AON by 16,970.0% during the first quarter. Ellis Investment Partners LLC now owns 716,940 shares of the financial services provider’s stock valued at $716,000 after purchasing an additional 712,740 shares in the last quarter. BlackRock Inc. boosted its holdings in AON by 4.0% during the first quarter. BlackRock Inc. now owns 16,630,110 shares of the financial services provider’s stock valued at $2,838,761,000 after purchasing an additional 632,726 shares in the last quarter. Finally, Boston Partners boosted its holdings in AON by 14.5% during the first quarter. Boston Partners now owns 4,162,350 shares of the financial services provider’s stock valued at $710,513,000 after purchasing an additional 528,189 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. ValuEngine downgraded AON from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Co reaffirmed a “hold” rating and set a $195.00 price objective on shares of AON in a report on Friday, July 26th. Morgan Stanley lifted their price objective on AON from $197.00 to $200.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Barclays lifted their price objective on AON from $155.00 to $182.00 and gave the company an “equal weight” rating in a report on Wednesday, May 22nd. Finally, Atlantic Securities downgraded AON from an “overweight” rating to a “neutral” rating and set a $190.00 price objective on the stock. in a report on Friday, June 14th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $185.91.
AON stock traded down $3.10 during trading on Monday, hitting $186.33. The company had a trading volume of 29,134 shares, compared to its average volume of 799,677. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.83 and a current ratio of 1.83. The company has a 50-day simple moving average of $194.05. Aon PLC has a 12 month low of $135.30 and a 12 month high of $198.61. The company has a market cap of $44.74 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.75 and a beta of 0.86.
AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.01). The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.69 billion. AON had a return on equity of 48.75% and a net margin of 13.14%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.71 EPS. Equities research analysts predict that Aon PLC will post 9.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, July 31st. AON’s payout ratio is 21.57%.
AON Company Profile
Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
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