Federated Hermes Inc. Has $383,000 Holdings in Aon plc (NYSE:AON)

Key Points

• Federated Hermes Inc. significantly reduced its holdings in Aon plc by 94.9%, selling 17,760 shares to own 959 shares, valued at approximately $383,000.
• Aon reported earnings per share of $3.49 for its last quarter, exceeding the analyst consensus of $3.40, with revenues of $4.16 billion showing a 10.5% year-over-year increase.
• The company declared a quarterly dividend of $0.745 per share, representing a 0.8% yield and a payout ratio of 24.96%.

Federated Hermes Inc. cut its holdings in Aon plc (NYSE:AON - Free Report) by 94.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 959 shares of the financial services provider's stock after selling 17,760 shares during the period. Federated Hermes Inc.'s holdings in AON were worth $383,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Relyea Zuckerberg Hanson LLC increased its holdings in AON by 1.9% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 1,427 shares of the financial services provider's stock valued at $570,000 after buying an additional 27 shares during the last quarter. Value Partners Investments Inc. increased its stake in AON by 1.9% during the fourth quarter. Value Partners Investments Inc. now owns 1,485 shares of the financial services provider's stock valued at $533,000 after purchasing an additional 28 shares during the last quarter. Brighton Jones LLC increased its stake in AON by 0.4% during the first quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock valued at $2,916,000 after purchasing an additional 29 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in 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 purchasing an additional 30 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its stake in AON by 0.3% during the first 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 hedge funds and other institutional investors.

AON Price Performance

AON stock traded down $3.92 on Tuesday, hitting $364.17. 2,991,570 shares of the company's stock traded hands, compared to its average volume of 1,439,607. The stock has a market cap of $78.53 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 2.18 and a beta of 0.83. Aon plc has a 1-year low of $323.73 and a 1-year 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. The stock has a fifty day moving average of $357.81 and a 200-day moving average of $370.73.

AON (NYSE:AON - Get Free Report) last issued its 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 business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same period in the previous year, the firm posted $2.93 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts forecast that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $0.745 dividend. The ex-dividend date is Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON's dividend payout ratio (DPR) is 24.96%.

Analysts Set New Price Targets

Several analysts have weighed in on AON shares. Barclays reiterated an "overweight" rating and set a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 target price on the stock in a research report on Tuesday, May 13th. Evercore ISI increased their target price on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $438.00 target price (up from $436.00) on shares of AON in a research report on Thursday, July 10th. Finally, Cantor Fitzgerald started coverage on AON in a research report on Tuesday. They issued an "overweight" rating and a $440.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $411.27.

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.