California State Teachers Retirement System Trims Holdings in Aon plc $AON

California State Teachers Retirement System decreased its stake in shares of Aon plc (NYSE:AON - Free Report) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 306,798 shares of the financial services provider's stock after selling 2,175 shares during the quarter. California State Teachers Retirement System owned about 0.14% of AON worth $101,761,829 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in AON in the second quarter valued at about $220,000. HB Wealth Management LLC increased its position in AON by 23.6% in the second quarter. HB Wealth Management LLC now owns 9,279 shares of the financial services provider's stock worth $3,078,000 after purchasing an additional 1,770 shares during the last quarter. Saudi Central Bank raised its stake in shares of AON by 89.0% during the second quarter. Saudi Central Bank now owns 14,248 shares of the financial services provider's stock valued at $4,726,000 after acquiring an additional 6,711 shares in the last quarter. AlphaGrep UK Ltd acquired a new stake in AON in the second quarter worth about $334,000. Finally, Old Mission Investment Co LLC acquired a new position in shares of AON in the second quarter worth about $300,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Buying and Selling

In related news, Director Lester B. Knight bought 20,000 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average price of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the transaction, the director directly owned 163,000 shares in the company, valued at $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Darren Zeidel sold 1,900 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the completion of the transaction, the general counsel owned 11,504 shares of the company's stock, valued at approximately $4,345,751.04. The trade was a 14.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,450 shares of company stock worth $1,659,242. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

AON has been the subject of several recent research reports. UBS Group reiterated a "neutral" rating on shares of AON in a research note on Monday, August 31st. Roth Capital set a $380.00 price objective on AON in a research note on Tuesday, September 1st. Wolfe Research cut AON from a "hold" rating to a "strong sell" rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target on shares of AON from $412.00 to $417.00 and gave the company an "outperform" rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings upgraded shares of AON from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $399.35.

AON Stock Down 0.9%

Shares of AON traded down $2.87 during mid-day trading on Tuesday, reaching $308.68. 757,506 shares of the stock traded hands, compared to its average volume of 1,460,197. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $349.43 and a 200 day simple moving average of $333.77. The firm has a market cap of $65.48 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.53 and a beta of 0.66. Aon plc has a 12-month low of $302.44 and a 12-month high of $382.34.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, beating the consensus estimate of $3.80 by $0.01. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%.The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.49 earnings per share. Sell-side analysts expect that Aon plc will post 18.94 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, August 3rd. AON's dividend payout ratio (DPR) is presently 18.08%.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.

Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.

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