Kentucky Retirement Systems Reduces Stake in Aon plc (NYSE:AON)

Kentucky Retirement Systems reduced its position in Aon plc (NYSE:AON - Free Report) by 10.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,406 shares of the financial services provider's stock after selling 1,523 shares during the period. Kentucky Retirement Systems' holdings in AON were worth $5,350,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. purchased a new position in AON in the 1st quarter valued at approximately $42,000. Canton Hathaway LLC purchased a new position in AON in the 1st quarter valued at approximately $1,397,000. Praxis Investment Management Inc. increased its stake in AON by 2.8% in the 1st quarter. Praxis Investment Management Inc. now owns 5,520 shares of the financial services provider's stock valued at $2,203,000 after purchasing an additional 150 shares in the last quarter. Castleview Partners LLC purchased a new position in AON in the 1st quarter valued at approximately $363,000. Finally, Canoe Financial LP increased its position in AON by 44.0% during the first quarter. Canoe Financial LP now owns 83,679 shares of the financial services provider's stock worth $33,395,000 after buying an additional 25,570 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Trading Up 1.1%

Shares of AON opened at $354.82 on Monday. The stock's 50-day moving average is $359.85 and its two-hundred day moving average is $371.32. The stock has a market cap of $76.62 billion, a PE ratio of 30.22, a P/E/G ratio of 2.12 and a beta of 0.86. Aon plc has a 12 month low of $285.35 and a 12 month high of $412.97. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.73 and a quick ratio of 1.73.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing analysts' consensus estimates of $6.04 by ($0.37). AON had a return on equity of 52.71% and a net margin of 15.58%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the firm earned $5.66 EPS. The company's revenue for the quarter was up 16.2% compared to the same quarter last year. Equities analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $0.745 dividend. This is a boost from AON's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.84%. AON's payout ratio is 25.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler raised AON from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $384.00 to $378.00 in a research report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Evercore ISI dropped their price target on AON from $420.00 to $398.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their price target on AON from $394.00 to $409.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group raised their price target on AON from $396.00 to $416.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $397.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.