AMF Tjanstepension AB Decreases Holdings in Aon plc (NYSE:AON)

Key Points

• AMF Tjanstepension AB has reduced its holdings in Aon plc by 6.3% during the 1st quarter, owning 56,459 shares valued at approximately $22.55 million after selling 3,820 shares.
• Aon's quarterly earnings showed a 10.5% revenue increase year-over-year, reporting $3.49 EPS which exceeded analysts' expectations of $3.40.
• The company has announced a quarterly dividend of $0.745 per share, with a current yield of 0.8%, reinforcing its status among institutional investors who own 86.14% of the stock.

AMF Tjanstepension AB cut its position in Aon plc (NYSE:AON - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,459 shares of the financial services provider's stock after selling 3,820 shares during the quarter. AMF Tjanstepension AB's holdings in AON were worth $22,553,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AON. Financial Gravity Asset Management Inc. bought a new position in AON in the first quarter worth about $28,000. HHM Wealth Advisors LLC raised its holdings 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 in the last quarter. Tsfg LLC bought a new position in AON in the first quarter worth about $37,000. Accent Capital Management LLC purchased a new stake in shares of AON during the first quarter worth about $40,000. Finally, Garde Capital Inc. purchased a new stake in shares of AON during the first quarter worth about $42,000. 86.14% of the stock is currently owned by institutional investors.

AON Stock Performance

NYSE AON traded up $1.36 during trading hours on Friday, reaching $366.39. The stock had a trading volume of 1,095,233 shares, compared to its average volume of 1,402,192. The stock has a fifty day moving average of $357.97 and a 200 day moving average of $370.69. The stock has a market cap of $79.00 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83. Aon plc has a 52-week low of $323.73 and a 52-week 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 - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the firm posted $2.93 EPS. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 1st. AON's dividend payout ratio is currently 24.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AON. The Goldman Sachs Group upgraded AON from a "neutral" rating to a "buy" rating and set a $408.00 price target on the stock in a research note on Tuesday, May 13th. Barclays restated an "overweight" rating and set a $420.00 price target (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Keefe, Bruyette & Woods dropped their price target on AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI boosted their price target on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Piper Sandler boosted their price target on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, AON presently has an average rating of "Moderate Buy" and a consensus target price of $409.21.

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.