Engineers Gate Manager LP Has $788,000 Position in Aon plc $AON

Key Points

• Engineers Gate Manager LP cut its Aon holdings by 92% in the second quarter, selling 27,174 shares and retaining 2,377 shares valued at approximately $788,000.
• Institutional ownership remains high at 86.14%, with several other investment firms increasing their Aon positions during the quarter.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $397.47. Aon also reported quarterly EPS of $3.81, slightly above estimates, and paid a quarterly dividend of $0.82 per share.

Engineers Gate Manager LP lessened its holdings in Aon plc (NYSE:AON - Free Report) by 92.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,377 shares of the financial services provider's stock after selling 27,174 shares during the period. Engineers Gate Manager LP's holdings in AON were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AON. Integrated Wealth Concepts LLC grew its position in shares of AON by 9.2% in the second quarter. Integrated Wealth Concepts LLC now owns 14,315 shares of the financial services provider's stock valued at $4,748,000 after purchasing an additional 1,208 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in AON by 3.5% during the 2nd quarter. NewEdge Advisors LLC now owns 6,898 shares of the financial services provider's stock worth $2,288,000 after purchasing an additional 234 shares during the last quarter. IFP Advisors Inc boosted its stake in AON by 183.3% in the 2nd quarter. IFP Advisors Inc now owns 1,592 shares of the financial services provider's stock valued at $528,000 after purchasing an additional 1,030 shares during the period. Baird Financial Group Inc. boosted its stake in AON by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 31,867 shares of the financial services provider's stock valued at $10,570,000 after purchasing an additional 1,156 shares during the period. Finally, Allworth Financial LP grew its holdings in AON by 61.6% in the 2nd quarter. Allworth Financial LP now owns 5,799 shares of the financial services provider's stock valued at $1,924,000 after buying an additional 2,210 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AON shares. Wolfe Research downgraded AON from a "hold" rating to a "strong sell" rating in a report on Friday, September 11th. Evercore restated an "outperform" rating and issued a $423.00 price target on shares of AON in a research note on Wednesday, September 2nd. Citigroup raised their price target on shares of AON from $420.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of AON in a research note on Tuesday, September 1st. Finally, Piper Sandler decreased their target price on shares of AON from $391.00 to $349.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 1st. Twelve equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $397.47.

AON Stock Performance

NYSE AON opened at $295.75 on Monday. The firm's 50 day simple moving average is $344.81 and its 200 day simple moving average is $332.85. The firm has a market capitalization of $62.74 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.50 and a beta of 0.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34. Aon plc has a 1 year low of $293.00 and a 1 year high of $382.34.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings data 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. AON had a net margin of 22.27% and a return on equity of 42.13%. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the business earned $3.49 earnings per share. The company's revenue was up 2.2% on a year-over-year basis. As a group, research analysts expect that Aon plc will post 18.93 earnings per share for the current fiscal year.

AON Dividend Announcement

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

Insider Activity

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of AON stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total value of $717,744.00. Following the transaction, the general counsel owned 11,504 shares in the company, valued at $4,345,751.04. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lester Knight bought 20,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the purchase, the director owned 163,000 shares of the company's stock, valued at approximately $53,379,240. This represents a 13.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 4,450 shares of company stock worth $1,659,242 over the last ninety days. 1.00% of the stock is currently owned by insiders.

AON 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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