Corebridge Financial Inc. Sells 1,953 Shares of Aon plc $AON

Key Points

• Corebridge Financial Inc. reduced its stock holdings in Aon plc by 3.6%, selling 1,953 shares and leaving them with 52,410 shares valued at $20,916,000.
• Several institutional investors made moves in Aon during the first quarter, with 86.14% of the company now owned by these investors.
• Aon received positive forecasts from analysts, with an average target price of $412.69 and multiple upgrades in ratings from research firms.

Corebridge Financial Inc. lessened its holdings in shares of Aon plc (NYSE:AON - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 52,410 shares of the financial services provider's stock after selling 1,953 shares during the period. Corebridge Financial Inc.'s holdings in AON were worth $20,916,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new stake in shares of AON during the first quarter worth $28,000. HHM Wealth Advisors LLC lifted its holdings in 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 buying an additional 29 shares in the last quarter. Tsfg LLC acquired a new position in AON during the 1st quarter worth $37,000. Accent Capital Management LLC acquired a new position in AON during the 1st quarter worth $40,000. Finally, Garde Capital Inc. acquired a new position in AON during the 1st quarter worth $42,000. Institutional investors own 86.14% of the company's stock.

AON Stock Up 0.2%

AON traded up $0.62 during trading on Friday, hitting $367.16. The company had a trading volume of 774,627 shares, compared to its average volume of 1,294,106. The company has a market capitalization of $79.17 billion, a PE ratio of 30.75, a PEG ratio of 2.17 and a beta of 0.83. Aon plc has a one year low of $323.73 and a one year high of $412.97. The firm's 50-day moving average price is $361.09 and its 200 day moving average price is $369.90. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. 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 firm's revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts expect that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.745 dividend. The ex-dividend date was 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of AON in a research note on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price target for the company. Evercore ISI boosted their price target on shares of AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Jefferies Financial Group upgraded AON from a "hold" rating to a "buy" rating and boosted their target price for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Barclays reissued an "overweight" rating and issued a $420.00 target price (up from $401.00) on shares of AON in a research note on Thursday, July 31st. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $438.00 target price (up from $436.00) on shares of AON in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, AON has an average rating of "Moderate Buy" and a consensus price target of $412.69.

AON Company 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.