Intech Investment Management LLC Cuts Position in Aon plc $AON

Key Points

• Intech Investment Management LLC has reduced its stake in Aon plc by 47.5% during the first quarter, leaving it with 8,757 shares valued at approximately $3.5 million.
• Other investors have increased their holdings significantly, with Portside Wealth Group LLC raising its position by 530.6% and Catalyst Capital Advisors LLC boosting its holdings by 425.3% during the same period.
• Aon recently reported earnings of $3.49 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.745 per share, reflecting a 0.8% dividend yield.

Intech Investment Management LLC lessened its holdings in Aon plc (NYSE:AON - Free Report) by 47.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,757 shares of the financial services provider's stock after selling 7,937 shares during the quarter. Intech Investment Management LLC's holdings in AON were worth $3,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Polen Capital Management LLC grew its holdings in AON by 318.1% in the 1st 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 bought a new stake in shares of AON during the 1st quarter valued at about $505,108,000. Wellington Management Group LLP bought a new stake in shares of AON during the 1st quarter valued at about $490,634,000. GAMMA Investing LLC boosted its stake in shares of AON by 56,460.0% during the 1st quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock valued at $304,052,000 after purchasing an additional 760,516 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of AON by 18.3% during the 1st 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 purchasing an additional 469,238 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AON shares. TD Cowen dropped their price objective on shares of AON from $427.00 to $419.00 and set a "buy" rating on the stock in a research note on Wednesday. Evercore ISI boosted their price objective 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. Morgan Stanley raised shares of AON from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $385.00 to $430.00 in a research note on Thursday, September 11th. Citigroup began coverage on shares of AON in a report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 target price for the company. Finally, Barclays reaffirmed an "overweight" rating and issued a $420.00 target price (up from $401.00) on shares of AON in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $414.69.

AON Trading Down 1.4%

Shares of AON traded down $5.15 during midday trading on Thursday, hitting $352.86. The stock had a trading volume of 1,392,947 shares, compared to its average volume of 1,014,448. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97. The firm has a market cap of $76.09 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 2.12 and a beta of 0.87. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The stock's 50 day moving average is $364.04 and its 200 day moving average is $367.25.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.40 by $0.09. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.93 EPS. As a group, analysts forecast that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently declared 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 currently 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.