Sei Investments Co. Sells 9,875 Shares of Aon plc $AON

Key Points

• Sei Investments Co. reduced its Aon position by 2.1% in the first quarter, selling 9,875 shares and leaving it with 451,925 shares valued at about $145.9 million.
• Aon reported solid quarterly results, with EPS of $6.48 and revenue of $5.03 billion, both topping analyst expectations; revenue rose 6.4% year over year.
• The company announced a quarterly dividend of $0.82 per share, and analysts remain constructive overall, with a consensus rating of Moderate Buy and an average price target of $404.56.

Sei Investments Co. trimmed its position in Aon plc (NYSE:AON - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 451,925 shares of the financial services provider's stock after selling 9,875 shares during the period. Sei Investments Co. owned 0.21% of AON worth $145,872,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AON. Wealth Watch Advisors INC purchased a new stake in AON in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of AON during the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of AON during the 4th quarter valued at $29,000. Eagle Bay Advisors LLC bought a new position in AON in the 4th quarter worth $30,000. Finally, Strive Asset Management LLC purchased a new stake in AON in the 3rd quarter worth $35,000. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Darren Zeidel sold 600 shares of the firm's stock in a transaction 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 transaction, the general counsel directly owned 15,354 shares in the company, valued at $5,527,440. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

AON Price Performance

NYSE:AON opened at $355.50 on Friday. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. The stock's fifty day moving average is $335.69 and its two-hundred day moving average is $331.17. The company has a market capitalization of $75.93 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.85 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36.

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

AON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON's dividend payout ratio (DPR) is presently 18.00%.

Analyst Ratings Changes

Several equities analysts have recently commented on AON shares. JPMorgan Chase & Co. boosted their price objective on AON from $396.00 to $412.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Weiss Ratings restated a "hold (c)" rating on shares of AON in a research note on Friday, July 17th. Mizuho lifted their price objective on shares of AON from $389.00 to $426.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Citigroup boosted their target price on shares of AON from $412.00 to $420.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Finally, Cantor Fitzgerald raised their target price 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. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, AON currently has an average rating of "Moderate Buy" and a consensus price target of $404.56.

About AON

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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