GSA Capital Partners LLP Reduces Holdings in Aon plc (NYSE:AON)

Key Points

• GSA Capital Partners LLP reduced its stake in Aon plc by 38%, selling 1,661 shares to hold a total of 2,710 shares valued at approximately $1,082,000.
• Several institutional investors have significantly increased their holdings, with GAMMA Investing LLC boosting its position by 56,460% and now owning 761,863 shares valued at $304 million.
• Aon recently reported earnings per share of $3.49 for the quarter, exceeding estimates, along with a dividend announcement of $0.745 per share to be paid on August 15th.

GSA Capital Partners LLP trimmed its holdings in Aon plc (NYSE:AON - Free Report) by 38.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,710 shares of the financial services provider's stock after selling 1,661 shares during the quarter. GSA Capital Partners LLP's holdings in AON were worth $1,082,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AON. Financial Gravity Asset Management Inc. purchased a new stake in shares of AON during the 1st quarter valued at approximately $28,000. Tsfg LLC purchased a new stake in shares of AON during the 1st quarter valued at approximately $37,000. Garde Capital Inc. purchased a new stake in shares of AON during the 1st quarter valued at approximately $42,000. Meeder Asset Management Inc. raised its position in shares of AON by 111.3% during the 1st quarter. Meeder Asset Management Inc. now owns 112 shares of the financial services provider's stock valued at $45,000 after buying an additional 59 shares during the period. Finally, Nemes Rush Group LLC purchased a new stake in shares of AON during the 4th quarter valued at approximately $55,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AON has been the topic of several analyst reports. The Goldman Sachs Group raised shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 price target on the stock in a research report on Tuesday, May 13th. Jefferies Financial Group upgraded shares of AON from a "hold" rating to a "buy" rating and lifted their target price for the company from $400.00 to $426.00 in a report on Wednesday. Piper Sandler boosted their target price on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday. Wells Fargo & Company reissued an "overweight" rating and issued a $438.00 target price (up previously from $436.00) on shares of AON in a research report on Thursday, July 10th. Finally, Evercore ISI boosted their target price on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $409.21.

AON Stock Down 0.7%

Shares of AON stock traded down $2.62 during trading hours on Friday, reaching $353.09. 1,640,932 shares of the company were exchanged, compared to its average volume of 1,348,763. Aon plc has a 1 year low of $322.95 and a 1 year high of $412.97. The stock's fifty day moving average is $358.15 and its 200 day moving average is $370.81. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.73 and a current ratio of 1.52. The firm has a market cap of $76.14 billion, a PE ratio of 29.57, a PEG ratio of 2.11 and a beta of 0.83.

AON (NYSE:AON - Get Free Report) last posted its earnings results 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. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%. AON's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 earnings per share. As a group, equities research analysts forecast that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

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

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.