NewEdge Wealth LLC Sells 10,684 Shares of Aon plc $AON

Key Points

• NewEdge Wealth LLC cut its Aon stake by 63.6% in the first quarter, selling 10,684 shares and leaving it with 6,123 shares worth about $1.98 million.
• Aon reported stronger-than-expected quarterly results, with EPS of $6.48 topping estimates and revenue rising 6.4% year over year to $5.03 billion.
• The company announced a quarterly dividend of $0.82 per share, payable August 14, while analysts currently rate the stock a “Moderate Buy” with an average price target of $404.56.

NewEdge Wealth LLC decreased its position in Aon plc (NYSE:AON - Free Report) by 63.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,123 shares of the financial services provider's stock after selling 10,684 shares during the quarter. NewEdge Wealth LLC's holdings in AON were worth $1,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Kathmere Capital Management LLC boosted its position in AON by 2.1% during the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider's stock worth $558,000 after acquiring an additional 32 shares during the last quarter. City National Bank of Florida MSD raised its holdings in shares of AON by 3.8% in the fourth quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 32 shares during the last quarter. Capital Investment Advisors LLC lifted its position in shares of AON by 1.8% in the fourth quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider's stock worth $664,000 after purchasing an additional 33 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in AON by 39.3% during the fourth quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider's stock worth $41,000 after purchasing an additional 33 shares during the last quarter. Finally, Mattern Capital Management LLC grew its position in AON by 0.8% in the fourth quarter. Mattern Capital Management LLC now owns 3,974 shares of the financial services provider's stock valued at $1,402,000 after purchasing an additional 33 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Stock Performance

Shares of AON opened at $361.26 on Friday. The company has a market cap of $77.16 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71. The firm has a 50-day moving average of $336.57 and a 200-day moving average of $331.38. Aon plc has a one year low of $304.59 and a one 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.

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

AON Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, August 3rd. This represents a $3.28 annualized dividend and a yield of 0.9%. AON's dividend payout ratio is currently 18.00%.

Insider Activity

In other news, General Counsel Darren Zeidel sold 600 shares of AON stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the transaction, the general counsel directly owned 15,354 shares in the company, valued at approximately $5,527,440. The trade was a 3.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AON shares. Piper Sandler cut shares of AON from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $355.00 to $377.00 in a research report on Wednesday, July 15th. Mizuho lifted their target price on AON from $389.00 to $426.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Citigroup upped their target price on AON from $412.00 to $420.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Barclays increased their price target on AON from $372.00 to $382.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company lowered their price target on AON from $409.00 to $406.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus 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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