Fiduciary Alliance LLC Cuts Stake in Aon plc $AON

Key Points

• Fiduciary Alliance LLC reduced its stake in Aon plc by 17.4% during Q2, now holding 4,563 shares valued at approximately $1.63 million.
• Several institutional investors, including Polen Capital Management and Bank of New York Mellon Corp, significantly increased their stakes in Aon, highlighting strong interest in the company.
• Aon recently reported a 10.5% year-over-year revenue increase, with earnings per share beating consensus estimates at $3.49 for the last quarter.

Fiduciary Alliance LLC reduced its stake in Aon plc (NYSE:AON - Free Report) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,563 shares of the financial services provider's stock after selling 959 shares during the period. Fiduciary Alliance LLC's holdings in AON were worth $1,628,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AON. Polen Capital Management LLC grew its stake in shares of AON by 318.1% in the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock worth $1,200,350,000 after acquiring an additional 2,288,397 shares during the last quarter. Nuveen LLC purchased a new stake in shares of AON in the first quarter worth $505,108,000. Wellington Management Group LLP purchased a new stake in shares of AON in the first quarter worth $490,634,000. GAMMA Investing LLC grew its stake in shares of AON by 56,460.0% in the first quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock worth $304,052,000 after acquiring an additional 760,516 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock valued at $1,210,864,000 after buying an additional 469,238 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AON. Citigroup began coverage on AON in a research report on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price objective on the stock. Jefferies Financial Group raised 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. Barclays reaffirmed an "overweight" rating and set a $420.00 price objective (up from $401.00) on shares of AON in a research report on Thursday, July 31st. Cantor Fitzgerald raised AON to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley raised AON from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $385.00 to $430.00 in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $415.50.

AON Stock Down 2.1%

Shares of AON opened at $356.22 on Wednesday. The business's 50 day moving average is $364.13 and its 200 day moving average is $367.70. The company has a market capitalization of $76.81 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating 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 return on equity of 50.91% and a net margin of 15.54%.The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. Research analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, August 1st. AON's dividend payout ratio (DPR) is currently 24.96%.

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.

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