Sumitomo Mitsui DS Asset Management Company Ltd Has $9.33 Million Stock Position in Aon plc $AON

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has reduced its stake in Aon plc by 6.7%, now holding 26,140 shares valued at approximately $9.33 million.
• Aon reported a quarterly earnings per share (EPS) of $3.49, exceeding analysts' expectations by $0.09, and noted a 10.5% increase in revenue year-over-year.
• The firm declared a $0.745 quarterly dividend, yielding about 0.8%, and has a payout ratio of 24.96%.

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in Aon plc (NYSE:AON - Free Report) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,140 shares of the financial services provider's stock after selling 1,882 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in AON were worth $9,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of AON in the first quarter worth $28,000. Saudi Central Bank acquired a new stake in shares of AON in the first quarter worth $31,000. HHM Wealth Advisors LLC grew its stake in shares of AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock worth $33,000 after acquiring an additional 29 shares during the last quarter. Tsfg LLC acquired a new stake in shares of AON in the first quarter worth $37,000. Finally, Accent Capital Management LLC acquired a new stake in AON during the first quarter worth $40,000. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Stock Down 1.4%

Shares of NYSE:AON opened at $352.86 on Friday. The company's fifty day moving average is $364.04 and its 200-day moving average is $367.25. 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 52 week low of $323.73 and a 52 week high of $412.97. The company has a market capitalization of $76.09 billion, a PE ratio of 29.55, a P/E/G ratio of 2.12 and a beta of 0.87.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $4.16 billion. During the same period in the previous year, the business posted $2.93 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 1st. AON's payout ratio is currently 24.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AON shares. Evercore ISI lifted their price target on shares of AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Barclays reiterated an "overweight" rating and set a $420.00 price target (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Cantor Fitzgerald upgraded shares of AON to a "strong-buy" rating in a research note on Wednesday, August 13th. Citigroup started coverage on shares of AON in a research note on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price target on the stock. Finally, TD Cowen decreased their price target on shares of AON from $427.00 to $419.00 and set a "buy" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $414.69.

About AON

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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