New York State Teachers Retirement System cut its stake in Aon plc (NYSE:AON - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,468 shares of the financial services provider's stock after selling 10,065 shares during the period. New York State Teachers Retirement System owned about 0.07% of AON worth $62,445,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Amalgamated Bank raised its stake in shares of AON by 0.4% during the first quarter. Amalgamated Bank now owns 43,155 shares of the financial services provider's stock valued at $17,223,000 after acquiring an additional 163 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in AON by 3.4% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,631 shares of the financial services provider's stock valued at $651,000 after purchasing an additional 53 shares in the last quarter. KBC Group NV lifted its holdings in shares of AON by 4.9% in the 1st quarter. KBC Group NV now owns 33,026 shares of the financial services provider's stock worth $13,180,000 after buying an additional 1,553 shares during the period. Joel Isaacson & Co. LLC grew its position in shares of AON by 18.8% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,638 shares of the financial services provider's stock worth $1,053,000 after buying an additional 418 shares in the last quarter. Finally, Tsfg LLC bought a new stake in shares of AON in the first quarter valued at about $37,000. Hedge funds and other institutional investors own 86.14% of the company's stock.
AON Stock Performance
Shares of NYSE AON traded down $7.70 during mid-day trading on Wednesday, hitting $349.24. The stock had a trading volume of 350,190 shares, compared to its average volume of 1,156,024. The firm has a market cap of $75.41 billion, a PE ratio of 29.73, a PEG ratio of 2.13 and a beta of 0.84. The company has a debt-to-equity ratio of 2.26, a quick ratio of 1.73 and a current ratio of 1.73. The company has a 50 day moving average of $357.88 and a two-hundred day moving average of $370.85. Aon plc has a twelve month low of $291.72 and a twelve month high of $412.97.
AON (NYSE:AON - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The financial services provider reported $5.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.04 by ($0.37). The firm had revenue of $4.73 billion during the quarter, compared to analysts' expectations of $4.83 billion. AON had a return on equity of 52.71% and a net margin of 15.58%. The company's revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.66 earnings per share. Research analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.
AON Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.745 dividend. The ex-dividend date was Thursday, May 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.85%. This is a positive change from AON's previous quarterly dividend of $0.68. AON's dividend payout ratio is presently 25.38%.
Analyst Upgrades and Downgrades
A number of research firms have commented on AON. Redburn Atlantic raised shares of AON to a "hold" rating in a research report on Tuesday, March 25th. Barclays reduced their price objective on shares of AON from $430.00 to $415.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group upgraded shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 target price for the company in a report on Tuesday, May 13th. Jefferies Financial Group raised their price target on shares of AON from $396.00 to $416.00 and gave the company a "hold" rating in a report on Friday, April 11th. Finally, Evercore ISI reduced their price objective on shares of AON from $420.00 to $398.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, AON currently has a consensus rating of "Hold" and an average target price of $397.27.
View Our Latest Analysis on AON
AON Profile
(
Free Report)
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.
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