Aon plc (NYSE:AON) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in Aon plc by 11.1%, now holding 37,062 shares worth approximately $14.62 million.
• Aon reported earnings of $3.49 per share, exceeding analysts' estimates of $3.40, with quarterly revenue rising by 10.5% year-over-year.
• The company declared a quarterly dividend of $0.745 per share, representing an annualized yield of 0.80% and a payout ratio of 24.96%.

Mediolanum International Funds Ltd lessened its stake in Aon plc (NYSE:AON - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,062 shares of the financial services provider's stock after selling 4,607 shares during the quarter. Mediolanum International Funds Ltd's holdings in AON were worth $14,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AON. Relyea Zuckerberg Hanson LLC raised its position in AON by 1.9% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,427 shares of the financial services provider's stock worth $570,000 after buying an additional 27 shares during the last quarter. Value Partners Investments Inc. raised its position in AON by 1.9% in the 4th quarter. Value Partners Investments Inc. now owns 1,485 shares of the financial services provider's stock worth $533,000 after buying an additional 28 shares during the last quarter. Brighton Jones LLC grew its stake in shares of AON by 0.4% during the 1st quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock valued at $2,916,000 after purchasing an additional 29 shares during the period. Catalyst Financial Partners LLC grew its stake in shares of AON by 2.6% during the 1st quarter. Catalyst Financial Partners LLC now owns 1,200 shares of the financial services provider's stock valued at $479,000 after purchasing an additional 30 shares during the period. Finally, Wesbanco Bank Inc. grew its stake in shares of AON by 0.3% during the 1st quarter. Wesbanco Bank Inc. now owns 11,940 shares of the financial services provider's stock valued at $4,765,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Trading Up 0.5%

AON stock traded up $1.94 during midday trading on Wednesday, reaching $355.97. The company's stock had a trading volume of 514,355 shares, compared to its average volume of 1,321,762. 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 stock has a fifty day simple moving average of $358.20 and a two-hundred day simple moving average of $370.91. Aon plc has a 1 year low of $322.95 and a 1 year high of $412.97. The firm has a market capitalization of $76.87 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 2.20 and a beta of 0.84.

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

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, August 1st. AON's payout ratio is currently 24.96%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price target on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Barclays cut their price objective on AON from $415.00 to $401.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Piper Sandler boosted their price objective on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research note on Monday. The Goldman Sachs Group upgraded AON from a "neutral" rating to a "buy" rating and set a $408.00 price objective for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their price target on AON from $394.00 to $409.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $407.86.

AON 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.