PNC Financial Services Group Inc. Reduces Stock Holdings in Aon plc (NYSE:AON)

PNC Financial Services Group Inc. cut its position in Aon plc (NYSE:AON - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,802 shares of the financial services provider's stock after selling 16,144 shares during the quarter. PNC Financial Services Group Inc. owned about 0.05% of AON worth $46,614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock worth $1,210,864,000 after acquiring an additional 469,238 shares in the last quarter. Northern Trust Corp raised its stake in shares of AON by 9.3% during the 4th quarter. Northern Trust Corp now owns 2,158,943 shares of the financial services provider's stock valued at $775,406,000 after purchasing an additional 183,442 shares during the period. Neuberger Berman Group LLC lifted its holdings in AON by 4.2% during the 4th quarter. Neuberger Berman Group LLC now owns 2,123,862 shares of the financial services provider's stock worth $762,796,000 after purchasing an additional 86,148 shares in the last quarter. WCM Investment Management LLC grew its holdings in AON by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider's stock valued at $809,544,000 after buying an additional 6,038 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its position in shares of AON by 2.3% during the fourth quarter. Independent Franchise Partners LLP now owns 2,016,972 shares of the financial services provider's stock valued at $724,416,000 after buying an additional 45,075 shares during the period. Institutional investors own 86.14% of the company's stock.

AON Trading Down 0.7%

AON stock opened at $353.09 on Monday. The company has a market capitalization of $76.14 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.10 and a beta of 0.83. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. Aon plc has a one year low of $322.95 and a one year high of $412.97. The company's 50 day moving average price is $358.07 and its two-hundred day moving average price is $370.83.

AON (NYSE:AON - Get Free Report) last issued 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 net margin of 15.54% and a return on equity of 50.91%. The company had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter last year, the company earned $2.93 EPS. The firm's revenue was up 10.5% compared to the same quarter last year. As a group, analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 1st. AON's dividend payout ratio (DPR) is presently 24.96%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays restated an "overweight" rating and issued a $420.00 price objective (up from $401.00) on shares of AON in a research report on Thursday. Piper Sandler raised their price target on shares of AON from $393.00 to $413.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods decreased their price target on shares of AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and lifted their price objective for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $438.00 price target (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.

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