Aon plc (NYSE:AON) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its stake in Aon plc by 18.1%, selling 3,121 shares and now holding 14,166 shares valued at approximately $5.65 million.
• Several institutional investors, including Portside Wealth Group LLC and WCM Investment Management LLC, have significantly increased their holdings in Aon, indicating strong interest from the market.
• Aon reported an EPS of $3.49 for the latest quarter, exceeding analyst estimates of $3.40, with a year-over-year revenue growth of 10.5%.

Pacer Advisors Inc. cut its holdings in Aon plc (NYSE:AON - Free Report) by 18.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,166 shares of the financial services provider's stock after selling 3,121 shares during the quarter. Pacer Advisors Inc.'s holdings in AON were worth $5,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. acquired a new stake in AON in the first quarter valued at $28,000. Tsfg LLC bought a new position in shares of AON during the 1st quarter worth about $37,000. Garde Capital Inc. acquired a new position in AON during the 1st quarter worth approximately $42,000. Nemes Rush Group LLC acquired a new stake in AON in the 4th quarter valued at $55,000. Finally, Orion Capital Management LLC acquired a new position in shares of AON during the fourth quarter valued at about $63,000. Institutional investors own 86.14% of the company's stock.

AON Stock Up 1.1%

Shares of AON traded up $4.07 during trading hours on Thursday, hitting $359.41. The company had a trading volume of 403,363 shares, compared to its average volume of 1,322,416. Aon plc has a 52-week low of $322.95 and a 52-week high of $412.97. The firm has a fifty day moving average price of $358.14 and a 200-day moving average price of $370.81. The stock has a market capitalization of $77.50 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 2.10 and a beta of 0.84. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.73 and a current ratio of 1.52.

AON (NYSE:AON - Get Free Report) last posted its earnings results on Friday, July 25th. The financial services provider reported $3.49 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 during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the company earned $2.93 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, August 1st. AON's payout ratio is 24.96%.

Analyst Ratings Changes

A number of brokerages have issued reports on AON. Keefe, Bruyette & Woods reduced their price objective on shares of AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and raised their target price for the stock from $400.00 to $426.00 in a research report on Wednesday. Evercore ISI boosted their price objective on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a research note on Monday. Piper Sandler boosted their price target on shares of AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $438.00 price objective (up from $436.00) on shares of AON in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $409.21.

AON Company 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.