Aon plc $AON Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co reduced its stake in Aon plc by 55.4%, owning 7,486 shares worth approximately $2.67 million after selling 9,311 shares in the 2nd quarter.
• Aon received multiple analyst upgrades, with Jefferies Financial Group increasing its price target from $400.00 to $426.00 and shifting their rating from "hold" to "buy."
• Aon reported a 10.5% year-over-year increase in revenue for the most recent quarter, reaching $4.16 billion, and achieved earnings of $3.49 per share, surpassing analysts’ expectations.

Diversified Trust Co lessened its holdings in Aon plc (NYSE:AON - Free Report) by 55.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,486 shares of the financial services provider's stock after selling 9,311 shares during the quarter. Diversified Trust Co's holdings in AON were worth $2,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Perpetual Ltd increased its holdings in AON by 7.5% in the 2nd quarter. Perpetual Ltd now owns 1,356 shares of the financial services provider's stock worth $484,000 after buying an additional 95 shares during the period. Canoe Financial LP increased its holdings in AON by 3.8% in the 2nd quarter. Canoe Financial LP now owns 86,829 shares of the financial services provider's stock worth $30,977,000 after buying an additional 3,150 shares during the period. Three Seasons Wealth LLC increased its holdings in AON by 10.4% in the 2nd quarter. Three Seasons Wealth LLC now owns 1,748 shares of the financial services provider's stock worth $624,000 after buying an additional 165 shares during the period. Carderock Capital Management Inc. increased its holdings in AON by 3.5% in the 2nd quarter. Carderock Capital Management Inc. now owns 20,245 shares of the financial services provider's stock worth $7,223,000 after buying an additional 694 shares during the period. Finally, Fulton Bank N.A. increased its holdings in AON by 2.4% in the 2nd quarter. Fulton Bank N.A. now owns 1,619 shares of the financial services provider's stock worth $578,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Ratings Changes

AON has been the topic of several recent research reports. Jefferies Financial Group upgraded AON from a "hold" rating to a "buy" rating and upped their price objective for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Cantor Fitzgerald upgraded AON to a "strong-buy" rating in a research report on Wednesday, August 13th. Barclays restated an "overweight" rating and issued a $420.00 price objective (up previously from $401.00) on shares of AON in a research report on Thursday, July 31st. Morgan Stanley upgraded AON from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $385.00 to $430.00 in a research report on Thursday, September 11th. Finally, Citigroup initiated coverage on AON in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $414.69.

AON Price Performance

Shares of NYSE AON opened at $350.05 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a twelve month low of $323.73 and a twelve month high of $412.97. The stock has a 50 day moving average of $363.92 and a two-hundred day moving average of $366.61. The stock has a market cap of $75.48 billion, a P/E ratio of 29.32, a P/E/G ratio of 2.08 and a beta of 0.87.

AON (NYSE:AON - Get Free Report) last released its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (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 business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts forecast that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.745 per share. The ex-dividend date was Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.9%. AON's dividend payout ratio is 24.96%.

About AON

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.

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