Bowie Capital Management LLC Sells 39,121 Shares of Aon plc $AON

Key Points

• Bowie Capital Management LLC has reduced its shares in Aon plc by 14.4%, now holding 231,871 shares, making it the firm's 12th largest position.
• Aon reported an earnings per share of $3.49 for the most recent quarter, surpassing the forecast of $3.40, with revenues reaching $4.16 billion.
• The company has announced a quarterly dividend of $0.745, resulting in an annualized dividend yield of 0.8%.

Bowie Capital Management LLC lowered its stake in shares of Aon plc (NYSE:AON - Free Report) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,871 shares of the financial services provider's stock after selling 39,121 shares during the period. AON accounts for 4.3% of Bowie Capital Management LLC's holdings, making the stock its 12th biggest position. Bowie Capital Management LLC owned about 0.11% of AON worth $92,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new stake in AON during the first quarter worth $28,000. HHM Wealth Advisors LLC increased its stake in shares of AON by 54.7% during 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. Tsfg LLC bought a new stake in shares of AON in the 1st quarter valued at about $37,000. Accent Capital Management LLC acquired a new stake in AON in the 1st quarter valued at about $40,000. Finally, Garde Capital Inc. acquired a new position in AON during the first quarter worth approximately $42,000. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

Shares of AON stock traded up $0.9310 during trading on Wednesday, reaching $373.7910. The company's stock had a trading volume of 766,743 shares, compared to its average volume of 1,331,655. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. The business's 50-day moving average price is $358.06 and its 200-day moving average price is $370.58. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. The firm has a market cap of $80.60 billion, a PE ratio of 31.31, a P/E/G ratio of 2.17 and a beta of 0.83.

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

AON Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cantor Fitzgerald raised AON to a "strong-buy" rating in a research report on Wednesday, August 13th. The Goldman Sachs Group raised shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 price objective for the company in a research report on Tuesday, May 13th. Jefferies Financial Group raised shares of AON from a "hold" rating to a "buy" rating and increased their price objective for the company from $400.00 to $426.00 in a research report on Wednesday, July 30th. Wells Fargo & Company restated an "overweight" rating and set a $438.00 target price (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. Finally, Barclays reiterated an "overweight" rating and issued a $420.00 price target (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, AON presently has an average rating of "Moderate Buy" and a consensus price target of $409.18.

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.