Waverly Advisors LLC Decreases Stock Position in Aon plc $AON

Key Points

• Waverly Advisors sharply reduced its Aon position by 81.1% in the second quarter, selling 17,911 shares and retaining 4,162 shares valued at approximately $1.38 million. Institutional investors collectively own 86.14% of Aon.
• Aon slightly exceeded quarterly earnings expectations, reporting $3.81 in EPS versus the $3.80 consensus estimate, while revenue rose 2.2% year over year to $4.25 billion, narrowly below forecasts.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $399.12 price target. Aon also pays a quarterly dividend of $0.82, equivalent to a 1.1% annualized yield.

Waverly Advisors LLC decreased its position in Aon plc (NYSE:AON - Free Report) by 81.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,162 shares of the financial services provider's stock after selling 17,911 shares during the quarter. Waverly Advisors LLC's holdings in AON were worth $1,380,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. 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 $27,000. Kemnay Advisory Services Inc. purchased a new stake in AON during the 4th quarter worth $29,000. Strive Asset Management LLC acquired a new position in AON in the 3rd quarter worth $35,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in AON in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Buying and Selling

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of AON stock in a transaction on Tuesday, July 28th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lester B. Knight bought 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, with a total value of $6,549,600.00. Following the purchase, the director owned 163,000 shares of the company's stock, valued at $53,379,240. The trade was a 13.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 4,450 shares of company stock valued at $1,659,242 over the last quarter. Company insiders own 1.00% of the company's stock.

AON Stock Performance

Shares of AON stock opened at $303.19 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54. Aon plc has a 1 year low of $302.44 and a 1 year high of $382.34. The firm's 50-day simple moving average is $350.34 and its 200-day simple moving average is $333.82. The firm has a market cap of $64.31 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.66.

AON (NYSE:AON - Get Free Report) last posted 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 the consensus estimate of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%.The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $3.49 earnings per share. Equities 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. Stockholders of record on Monday, August 3rd were given a $0.82 dividend. The ex-dividend date was Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. AON's dividend payout ratio (DPR) is presently 18.08%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AON shares. Roth Capital set a $380.00 target price on AON in a research report on Tuesday, September 1st. Morgan Stanley raised their price objective on AON from $380.00 to $410.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods lifted their price objective on AON from $412.00 to $417.00 and gave the stock an "outperform" rating in a report on Tuesday, September 1st. Citigroup upped their target price on AON from $420.00 to $435.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded AON from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $399.12.

AON Company 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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