Aon plc (NYSE:AON) Shares Sold by M.D. Sass LLC

Key Points

• M.D. Sass LLC reduced its stake in Aon plc by 18.0% during Q1, holding approximately 0.07% of the company, valued at $56,046,000.
• A number of institutional investors modified their positions in AON, with R Squared Ltd increasing its position by 1,758.3% and multiple firms acquiring new positions totaling millions in value.
• AON reported Q2 earnings of $3.49 per share, exceeding estimates, alongside a quarterly revenue of $4.16 billion, and plans to pay a quarterly dividend of $0.745 per share on August 15th.

M.D. Sass LLC decreased its position in Aon plc (NYSE:AON - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,434 shares of the financial services provider's stock after selling 30,907 shares during the quarter. AON comprises approximately 4.9% of M.D. Sass LLC's holdings, making the stock its 11th largest position. M.D. Sass LLC owned approximately 0.07% of AON worth $56,046,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AON. R Squared Ltd raised its position in AON by 1,758.3% during the first quarter. R Squared Ltd now owns 2,230 shares of the financial services provider's stock valued at $890,000 after buying an additional 2,110 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in AON during the first quarter valued at $239,000. Cumberland Partners Ltd acquired a new position in AON during the first quarter valued at $3,883,000. Jupiter Asset Management Ltd. acquired a new position in AON during the first quarter valued at $25,057,000. Finally, Baker Avenue Asset Management LP raised its position in AON by 9.0% during the first quarter. Baker Avenue Asset Management LP now owns 663 shares of the financial services provider's stock valued at $264,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

AON has been the topic of a number of recent research reports. Wells Fargo & Company restated an "overweight" rating and issued a $438.00 target price (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. The Goldman Sachs Group upgraded AON from a "neutral" rating to a "buy" rating and set a $408.00 target price on the stock in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods lowered their target price on AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded AON from a "hold" rating to a "buy" rating and boosted their target price for the company from $400.00 to $426.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on AON from $394.00 to $409.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, AON currently has a consensus rating of "Moderate Buy" and a consensus target price of $409.21.

AON Stock Performance

AON opened at $353.09 on Friday. The company has a market cap of $76.14 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.10 and a beta of 0.83. The stock has a 50-day moving average of $358.07 and a 200-day moving average of $370.81. Aon plc has a 52-week low of $322.95 and a 52-week high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.73 and a current ratio of 1.52.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.09. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%. The firm's revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.93 EPS. As a group, equities research analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

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