Marks Group Wealth Management Inc Sells 6,746 Shares of Aon plc $AON

Key Points

• Marks Group Wealth Management cut its Aon stake by 34.3% in the first quarter, selling 6,746 shares and ending with 12,928 shares valued at about $4.17 million.
• Aon reported better-than-expected quarterly results, with EPS of $6.48 versus $6.37 expected and revenue of $5.03 billion, up 6.4% year over year.
• Analyst sentiment remains constructive overall, with 12 Buy ratings and 5 Hold ratings, and an average target price of $404.56; the stock also carries a quarterly dividend of $0.82.

Marks Group Wealth Management Inc lessened its stake in shares of Aon plc (NYSE:AON - Free Report) by 34.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,928 shares of the financial services provider's stock after selling 6,746 shares during the quarter. Marks Group Wealth Management Inc's holdings in AON were worth $4,173,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in AON by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider's stock worth $7,117,960,000 after acquiring an additional 191,658 shares during the last quarter. Capital World Investors raised its position in AON by 1.5% in the fourth quarter. Capital World Investors now owns 12,252,904 shares of the financial services provider's stock valued at $4,323,850,000 after purchasing an additional 176,207 shares during the last quarter. State Street Corp boosted its stake in shares of AON by 1.2% during the third quarter. State Street Corp now owns 9,229,464 shares of the financial services provider's stock valued at $3,291,048,000 after purchasing an additional 105,154 shares in the last quarter. Dodge & Cox grew its holdings in shares of AON by 126.6% during the fourth quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider's stock worth $2,770,975,000 after purchasing an additional 4,387,773 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of AON by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 5,141,363 shares of the financial services provider's stock valued at $1,810,726,000 after buying an additional 28,066 shares during the period. 86.14% of the stock is currently 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 debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The business's 50-day moving average is $330.02 and its 200-day moving average is $330.86. The company has a market capitalization of $75.87 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.89 and a beta of 0.71.

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 the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The business had revenue of $5.03 billion during the quarter, compared to analysts' expectations of $4.97 billion. During the same quarter last year, the firm posted $5.67 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Aon plc will post 19.09 earnings per share for the current year.

AON Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler downgraded shares of AON from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $355.00 to $377.00 in a research report on Wednesday. Citigroup raised their price target on shares of AON from $412.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods cut their price target on shares of AON from $404.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, July 8th. UBS Group boosted their price objective on shares of AON from $360.00 to $383.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of AON in a research report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, AON has an average rating of "Moderate Buy" and an average target price of $404.56.

Insider Activity

In related news, General Counsel Darren Zeidel sold 600 shares of the business's stock in a transaction 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 transaction, the general counsel owned 15,354 shares in the company, valued at $5,527,440. The trade was a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

About AON

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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