Scharf Investments LLC Trims Stock Position in Aon plc (NYSE:AON)

Scharf Investments LLC decreased its position in shares of Aon plc (NYSE:AON - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,457 shares of the financial services provider's stock after selling 5,866 shares during the quarter. AON accounts for approximately 2.8% of Scharf Investments LLC's portfolio, making the stock its 18th largest holding. Scharf Investments LLC owned 0.11% of AON worth $91,973,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AON. Kestra Investment Management LLC purchased a new position in shares of AON during the 4th quarter valued at approximately $39,000. Global Retirement Partners LLC increased its holdings in shares of AON by 21.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,266 shares of the financial services provider's stock valued at $814,000 after purchasing an additional 397 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of AON by 33.4% during the 4th quarter. First Horizon Advisors Inc. now owns 503 shares of the financial services provider's stock valued at $181,000 after purchasing an additional 126 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of AON by 5.1% during the 4th quarter. Wealthspire Advisors LLC now owns 296,862 shares of the financial services provider's stock valued at $106,621,000 after purchasing an additional 14,283 shares in the last quarter. Finally, Howard Capital Management Inc. purchased a new position in shares of AON during the 4th quarter valued at approximately $448,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AON shares. Redburn Atlantic upgraded shares of AON to a "hold" rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. boosted their target price on shares of AON from $394.00 to $409.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Evercore ISI cut their target price 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. The Goldman Sachs Group raised shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 target price for the company in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods cut their target price on shares of AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. 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, the company has an average rating of "Hold" and a consensus target price of $397.27.

AON Price Performance

AON stock traded up $5.47 during mid-day trading on Monday, reaching $360.17. The company's stock had a trading volume of 1,176,583 shares, compared to its average volume of 1,159,020. The stock has a market cap of $77.77 billion, a PE ratio of 30.68, a P/E/G ratio of 2.12 and a beta of 0.86. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.26. Aon plc has a fifty-two week low of $285.35 and a fifty-two week high of $412.97. The company's 50 day moving average is $359.37 and its two-hundred day moving average is $371.20.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing analysts' consensus estimates of $6.04 by ($0.37). The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.83 billion. AON had a net margin of 15.58% and a return on equity of 52.71%. The firm's revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.66 EPS. Equities research analysts expect that Aon plc will post 17.21 EPS for the current year.

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.745 dividend. This is an increase from AON's previous quarterly dividend of $0.68. The ex-dividend date was Thursday, May 1st. This represents a $2.98 dividend on an annualized basis and a yield of 0.83%. AON's dividend payout ratio is presently 25.38%.

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.