Barings LLC Sells 24,829 Shares of Aon plc $AON

Key Points

• Barings LLC reduced its Aon stake by 34.9% in the first quarter, selling 24,829 shares and leaving it with 46,248 shares valued at about $14.9 million.
• Aon reported strong quarterly results, with EPS of $6.48 beating estimates and revenue of $5.03 billion topping expectations; revenue also rose 6.4% year over year.
• The stock was trading higher and the company declared a quarterly dividend of $0.82 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $404.56.

Barings LLC trimmed its holdings in shares of Aon plc (NYSE:AON - Free Report) by 34.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,248 shares of the financial services provider's stock after selling 24,829 shares during the period. Barings LLC's holdings in AON were worth $14,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of AON by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider's stock valued at $7,117,960,000 after acquiring an additional 191,658 shares during the period. Capital World Investors lifted its stake in shares of AON by 1.5% during the 4th quarter. Capital World Investors now owns 12,252,904 shares of the financial services provider's stock worth $4,323,850,000 after purchasing an additional 176,207 shares during the last quarter. State Street Corp boosted its position in AON by 1.2% during the third quarter. State Street Corp now owns 9,229,464 shares of the financial services provider's stock valued at $3,291,048,000 after purchasing an additional 105,154 shares in the last quarter. Dodge & Cox grew its stake in AON by 126.6% in the fourth quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider's stock valued at $2,770,975,000 after purchasing an additional 4,387,773 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in AON by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 5,141,363 shares of the financial services provider's stock worth $1,810,726,000 after purchasing an additional 28,066 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

AON Trading Up 3.7%

Shares of NYSE:AON opened at $368.16 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The business has a 50 day moving average of $331.11 and a two-hundred day moving average of $330.94. The company has a market capitalization of $78.63 billion, a PE ratio of 20.21, a PEG ratio of 1.87 and a beta of 0.71.

AON (NYSE:AON - Get Free Report) last posted its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.37 by $0.11. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.67 EPS. As a group, analysts forecast that Aon plc will post 19.09 EPS for the current year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 3rd. AON's dividend payout ratio is presently 18.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of AON from $372.00 to $382.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Wells Fargo & Company decreased their target price on shares of AON from $409.00 to $406.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their target price on shares of AON from $396.00 to $412.00 and gave the company an "overweight" rating in a research note on Monday. Morgan Stanley lifted their price target on shares of AON from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Finally, Citigroup increased their price objective on AON from $412.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, AON has a consensus rating of "Moderate Buy" and an average price target of $404.56.

Insider Buying and Selling at AON

In related news, General Counsel Darren Zeidel sold 600 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total value of $216,000.00. Following the completion of the transaction, the general counsel owned 15,354 shares of the company's stock, valued at approximately $5,527,440. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

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