Aon plc $AON Stake Cut by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management LLC has reduced its stake in Aon plc by 20.2%, lowering its holdings to 4,063 shares worth approximately $1.45 million.
• Aon plc has received positive analyses from several equity researchers, with 11 analysts rating it a Buy and an average price target of $420 per share.
• The company recently announced a quarterly dividend of $0.745, reflecting an annualized dividend yield of 0.9%, with the payment set for November 14th.

Applied Finance Capital Management LLC decreased its holdings in shares of Aon plc (NYSE:AON - Free Report) by 20.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,063 shares of the financial services provider's stock after selling 1,031 shares during the period. Applied Finance Capital Management LLC's holdings in AON were worth $1,450,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Financial Gravity Asset Management Inc. bought a new stake in shares of AON during the 1st quarter valued at about $28,000. Saudi Central Bank acquired a new position in AON in the first quarter valued at approximately $31,000. Pinnacle Bancorp Inc. grew its holdings in shares of AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 33 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of AON during the 2nd quarter worth approximately $32,000. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of AON by 54.7% in the 1st 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. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AON shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AON in a research report on Wednesday, October 8th. Barclays reaffirmed an "overweight" rating and issued a $420.00 price objective (up previously from $401.00) on shares of AON in a report on Thursday, July 31st. TD Cowen reduced their target price on shares of AON from $427.00 to $419.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Jefferies Financial Group upgraded shares of AON from a "hold" rating to a "buy" rating and raised their price target for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. Finally, Evercore ISI boosted their price objective on AON from $421.00 to $427.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $420.00.

AON Stock Down 3.6%

AON stock opened at $343.09 on Friday. The company's 50-day moving average price is $363.65 and its two-hundred day moving average price is $361.80. The stock has a market cap of $73.98 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 2.09 and a beta of 0.89. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. 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 (NYSE:AON - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. The business had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same period last year, the firm posted $2.93 earnings per share. The business's revenue was up 10.5% on a year-over-year basis. On average, analysts expect that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 3rd. AON's payout ratio is currently 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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