Kestra Advisory Services LLC Sells 3,393 Shares of Aon plc $AON

Key Points

• Kestra Advisory Services reduced its Aon stake by 17.9% in the first quarter, selling 3,393 shares and leaving it with 15,553 shares worth about $5.02 million.
• Aon reported strong quarterly results, with EPS of $6.48 and revenue of $5.03 billion, both beating analyst expectations. Revenue also rose 6.4% from a year earlier.
• The company announced a quarterly dividend of $0.82 per share payable on August 14, and analysts currently rate the stock a Moderate Buy with an average price target of $404.56.

Kestra Advisory Services LLC trimmed its holdings in Aon plc (NYSE:AON - Free Report) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,553 shares of the financial services provider's stock after selling 3,393 shares during the period. Kestra Advisory Services LLC's holdings in AON were worth $5,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AON. Dodge & Cox lifted its position in AON by 126.6% in the 4th quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider's stock valued at $2,770,975,000 after acquiring an additional 4,387,773 shares in the last quarter. Norges Bank purchased a new stake in shares of AON in the fourth quarter worth approximately $1,155,981,000. Viking Global Investors LP bought a new position in shares of AON in the third quarter valued at approximately $504,424,000. Balyasny Asset Management L.P. lifted its holdings in shares of AON by 40,219.8% in the third quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider's stock valued at $301,922,000 after purchasing an additional 844,615 shares in the last quarter. Finally, Southpoint Capital Advisors LP purchased a new position in shares of AON during the fourth quarter valued at approximately $229,372,000. 86.14% of the stock is owned by institutional investors.

AON Stock Down 1.0%

Shares of NYSE:AON opened at $355.23 on Thursday. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00. The company has a market capitalization of $75.87 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71. The business has a fifty day moving average price of $330.02 and a two-hundred day moving average price of $330.86. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON - Get Free Report) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, topping analysts' consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion for the quarter, compared to analysts' expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.67 EPS. Analysts forecast that Aon plc will post 19.09 earnings per share for the current year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON's payout ratio is presently 18.00%.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the sale, the general counsel owned 15,354 shares in the company, valued at $5,527,440. This trade represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AON has been the subject of a number of analyst reports. Piper Sandler lowered AON from an "overweight" rating to a "neutral" rating and increased their price target for the company from $355.00 to $377.00 in a research report on Wednesday. Barclays lifted their price objective on shares of AON from $372.00 to $382.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. UBS Group increased their target price on shares of AON from $360.00 to $383.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods dropped their price target on shares of AON from $404.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company cut their price target on shares of AON from $409.00 to $406.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, AON has an average rating of "Moderate Buy" and an average price target of $404.56.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

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