Aon plc $AON Stock Position Decreased by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC reduced its stake in Aon plc by 39.6% in Q2, holding 2,313 shares valued at $825,000.
• Aon plc reported a quarterly earnings of $3.49 per share, exceeding analysts' expectations, and posted a revenue of $4.16 billion.
• The company announced a quarterly dividend of $0.745 per share, yielding 0.8%, with a payout ratio of 24.96%.

Park Avenue Securities LLC lessened its holdings in shares of Aon plc (NYSE:AON - Free Report) by 39.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,313 shares of the financial services provider's stock after selling 1,519 shares during the period. Park Avenue Securities LLC's holdings in AON were worth $825,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AON. Wealth Enhancement Advisory Services LLC grew its position in shares of AON by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,082 shares of the financial services provider's stock valued at $10,086,000 after buying an additional 194 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of AON by 32.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 791 shares of the financial services provider's stock valued at $316,000 after buying an additional 196 shares during the last quarter. Versant Capital Management Inc grew its position in shares of AON by 75.6% during the 1st quarter. Versant Capital Management Inc now owns 483 shares of the financial services provider's stock valued at $193,000 after buying an additional 208 shares during the last quarter. Moody National Bank Trust Division bought a new stake in shares of AON during the 1st quarter valued at about $203,000. Finally, GAMMA Investing LLC boosted its stake in AON by 56,460.0% during the 1st quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock valued at $304,052,000 after purchasing an additional 760,516 shares during the period. Institutional investors own 86.14% of the company's stock.

AON Trading Up 1.3%

Shares of NYSE:AON opened at $356.24 on Friday. The company has a 50 day moving average of $363.72 and a 200-day moving average of $364.99. The firm has a market cap of $76.82 billion, a P/E ratio of 29.84, a P/E/G ratio of 2.11 and a beta of 0.87. Aon plc has a twelve month low of $323.73 and a twelve month 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 issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.09. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 EPS. As a group, analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 1st. AON's payout ratio is presently 24.96%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AON. Wolfe Research began coverage on shares of AON in a research note on Monday, September 15th. They set a "peer perform" rating for the company. Citigroup began coverage on shares of AON in a research note on Wednesday, August 13th. They set a "neutral" rating and a $402.00 target price for the company. 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. Wells Fargo & Company reissued an "overweight" rating and set a $438.00 target price (up from $436.00) on shares of AON in a research note on Thursday, July 10th. Finally, Evercore ISI boosted their target price on shares of AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $414.69.

AON Company 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.

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