NewEdge Advisors LLC Has $2.15 Million Stock Holdings in Aon plc $AON

Key Points

• NewEdge Advisors cut its Aon stake by 50.5% in the first quarter, selling 6,789 shares and retaining 6,664 shares valued at approximately $2.15 million. Institutional investors collectively own 86.14% of Aon.
• Analysts remain broadly positive, with 12 Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $410.75.
• Aon reported quarterly EPS of $3.81, narrowly exceeding estimates, while revenue rose 2.2% year over year to $4.25 billion. The company also paid a quarterly dividend of $0.82 per share, representing a 0.9% yield.

NewEdge Advisors LLC reduced its stake in Aon plc (NYSE:AON - Free Report) by 50.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,664 shares of the financial services provider's stock after selling 6,789 shares during the period. NewEdge Advisors LLC's holdings in AON were worth $2,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Watch Advisors INC bought a new stake in AON in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in AON in the fourth quarter worth approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in AON in the fourth quarter valued at approximately $29,000. Strive Asset Management LLC acquired a new stake in AON in the third quarter valued at approximately $35,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of AON during the third quarter valued at approximately $37,000. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup increased their target price on AON from $420.00 to $435.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. UBS Group boosted their price target on shares of AON from $383.00 to $387.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Cantor Fitzgerald raised their price objective on shares of AON from $416.00 to $445.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Morgan Stanley lifted their price objective on shares of AON from $370.00 to $380.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Finally, Mizuho boosted their target price on shares of AON from $426.00 to $437.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $410.75.

AON Trading Down 0.4%

NYSE AON opened at $355.61 on Friday. The firm has a market capitalization of $75.43 billion, a P/E ratio of 19.60, a PEG ratio of 1.84 and a beta of 0.69. The business has a fifty day simple moving average of $348.55 and a 200 day simple moving average of $333.12. Aon plc has a 12 month low of $304.59 and a 12 month high of $382.34. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm earned $3.49 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts predict that Aon plc will post 19.05 EPS for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $0.82 per share. The ex-dividend date was Monday, August 3rd. This represents a $3.28 annualized dividend and a yield of 0.9%. AON's payout ratio is 18.08%.

Insider Transactions at AON

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total value of $717,744.00. Following the completion of the sale, the general counsel owned 11,504 shares in the company, valued at approximately $4,345,751.04. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 4,450 shares of company stock valued at $1,659,242. Corporate insiders own 1.00% of the company's stock.

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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