Tidal Investments LLC Sells 13,512 Shares of Aon plc $AON

Key Points

• Tidal Investments reduced its Aon holdings by 12.2% in the second quarter, selling 13,512 shares and retaining 97,552 shares valued at approximately $32.4 million. Institutional investors collectively own 86.14% of Aon.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds. Aon has a consensus price target of $399.12, implying potential upside from its reported $304.82 share price.
• Aon’s latest quarterly results slightly exceeded earnings expectations, reporting $3.81 in EPS versus $3.80 forecast, while revenue rose 2.2% year over year to $4.25 billion. The company also paid a quarterly dividend of $0.82 per share.

Tidal Investments LLC trimmed its holdings in Aon plc (NYSE:AON - Free Report) by 12.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,552 shares of the financial services provider's stock after selling 13,512 shares during the period. Tidal Investments LLC's holdings in AON were worth $32,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AON. Wealth Watch Advisors INC purchased a new position in shares of AON in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in AON during the 4th quarter worth about $27,000. Kemnay Advisory Services Inc. bought a new position in AON in the 4th quarter worth about $29,000. Strive Asset Management LLC purchased a new position in AON during the 3rd quarter valued at about $35,000. Finally, Cornerstone Financial Management LLC bought a new stake in shares of AON during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

AON has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of AON from $419.00 to $383.00 and set an "overweight" rating on the stock in a report on Tuesday, September 1st. Morgan Stanley upped their target price on shares of AON from $380.00 to $410.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods increased their target price on shares of AON from $412.00 to $417.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of AON in a research report on Tuesday, September 1st. Finally, Citigroup upped their price target on shares of AON from $420.00 to $435.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $399.12.

Insider Transactions at AON

In other news, Director Lester Knight purchased 20,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average price of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the transaction, the director directly owned 163,000 shares of the company's stock, valued at approximately $53,379,240. This trade represents a 13.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Darren Zeidel sold 1,900 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total value of $717,744.00. Following the completion of the transaction, the general counsel owned 11,504 shares of the company's stock, valued at $4,345,751.04. The trade was a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,450 shares of company stock worth $1,659,242 in the last 90 days. Company insiders own 1.00% of the company's stock.

AON Trading Down 3.5%

Shares of AON opened at $304.82 on Thursday. Aon plc has a 1-year low of $303.59 and a 1-year high of $382.34. The company has a market capitalization of $64.66 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.60 and a beta of 0.66. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. The firm's 50 day simple moving average is $352.40 and its 200 day simple moving average is $334.03.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.01. The business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.28 billion. AON had a net margin of 22.27% and a return on equity of 42.13%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.49 EPS. Sell-side analysts forecast that Aon plc will post 18.94 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, August 3rd. AON's dividend payout ratio is currently 18.08%.

AON Profile

Aon plc is a global professional services firm that helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.

Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.

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