1832 Asset Management L.P. Sells 7,571 Shares of Aon plc $AON

Key Points

• 1832 Asset Management L.P. has reduced its holdings in Aon plc by 30.0%, now owning approximately $7.04 million worth in shares after selling 7,571 shares.
• Multiple research firms have issued positive ratings and raised their price targets for AON, with Jefferies Financial Group upgrading it to a buy rating and increasing the price target to $426.00.
• AON reported a quarterly earnings beat with an EPS of $3.49, surpassing analyst estimates, along with a revenue of $4.16 billion, marking a 10.5% increase year-over-year.

1832 Asset Management L.P. cut its position in shares of Aon plc (NYSE:AON - Free Report) by 30.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,637 shares of the financial services provider's stock after selling 7,571 shares during the quarter. 1832 Asset Management L.P.'s holdings in AON were worth $7,039,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Relyea Zuckerberg Hanson LLC boosted its stake in AON by 1.9% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 1,427 shares of the financial services provider's stock worth $570,000 after buying an additional 27 shares in the last quarter. Brighton Jones LLC grew its holdings in AON by 0.4% during the 1st quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock worth $2,916,000 after acquiring an additional 29 shares during the last quarter. HHM Wealth Advisors LLC raised its position in 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. Catalyst Financial Partners LLC lifted its stake in shares of AON by 2.6% during the first quarter. Catalyst Financial Partners LLC now owns 1,200 shares of the financial services provider's stock valued at $479,000 after acquiring an additional 30 shares during the period. Finally, Wesbanco Bank Inc. boosted its stake in shares of AON by 0.3% in the 1st quarter. Wesbanco Bank Inc. now owns 11,940 shares of the financial services provider's stock valued at $4,765,000 after purchasing an additional 31 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AON has been the subject of several recent analyst reports. Citigroup started coverage on shares of AON in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 target price for the company. Morgan Stanley reaffirmed a "cautious" rating on shares of AON in a report on Monday, August 18th. Cantor Fitzgerald upgraded AON to a "strong-buy" rating in a research note on Wednesday, August 13th. The Goldman Sachs Group upgraded AON from a "neutral" rating to a "buy" rating and set a $408.00 target price for the company in a research report on Tuesday, May 13th. Finally, Barclays reissued an "overweight" rating and set a $420.00 target price (up from $401.00) on shares of AON in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $412.69.

AON Trading Up 0.1%

Shares of AON stock traded up $0.32 on Friday, hitting $366.86. 316,006 shares of the company's stock traded hands, compared to its average volume of 1,319,063. The company has a fifty day moving average of $360.85 and a two-hundred day moving average of $370.13. The company has a market capitalization of $79.11 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.18 and a beta of 0.83. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. Aon plc has a one year low of $323.73 and a one year high of $412.97.

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, beating 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 firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts expect that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

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

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.