Tower Bridge Advisors cut its stake in shares of Aon plc (NYSE:AON - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,922 shares of the financial services provider's stock after selling 1,092 shares during the quarter. AON accounts for approximately 1.9% of Tower Bridge Advisors' holdings, making the stock its 10th biggest position. Tower Bridge Advisors' holdings in AON were worth $17,130,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of 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 purchasing an additional 27 shares during the period. Value Partners Investments Inc. lifted its holdings in AON by 1.9% in the fourth quarter. Value Partners Investments Inc. now owns 1,485 shares of the financial services provider's stock valued at $533,000 after acquiring an additional 28 shares during the period. Brighton Jones LLC lifted its holdings in AON by 0.4% in the first quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock valued at $2,916,000 after acquiring an additional 29 shares during the period. Catalyst Financial Partners LLC lifted its holdings in AON by 2.6% in 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. lifted its holdings in AON by 0.3% in the first quarter. Wesbanco Bank Inc. now owns 11,940 shares of the financial services provider's stock valued at $4,765,000 after acquiring an additional 31 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on AON shares. Keefe, Bruyette & Woods reduced their target price on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Piper Sandler raised their target price on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a report on Monday. Wells Fargo & Company reissued an "overweight" rating and issued a $438.00 target price (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on AON from $394.00 to $409.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, Evercore ISI raised their price target on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $409.21.
Read Our Latest Stock Analysis on AON
AON Trading Down 0.7%
NYSE:AON traded down $2.62 during mid-day trading on Friday, reaching $353.09. The company's stock had a trading volume of 1,640,932 shares, compared to its average volume of 1,331,812. The company's fifty day simple moving average is $358.15 and its two-hundred day simple moving average is $370.81. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.73. Aon plc has a twelve month low of $322.95 and a twelve month high of $412.97. The stock has a market cap of $76.14 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.11 and a beta of 0.84.
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 (EPS) for the quarter, topping 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 firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the company earned $2.93 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that Aon plc will post 17.21 EPS for the current year.
AON Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 1st. AON's payout ratio is currently 24.96%.
About AON
(
Free Report)
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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