American International Group Inc. reduced its holdings in Aon (NYSE:AON) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,786 shares of the financial services provider’s stock after selling 1,245 shares during the quarter. American International Group Inc.’s holdings in AON were worth $11,898,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of AON. Whittier Trust Co. of Nevada Inc. grew its position in shares of AON by 105.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,170 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 600 shares during the last quarter. Bray Capital Advisors acquired a new stake in shares of AON in the first quarter valued at about $176,000. Captrust Financial Advisors acquired a new stake in shares of AON in the fourth quarter valued at about $240,000. Dupont Capital Management Corp grew its position in shares of AON by 40.9% in the first quarter. Dupont Capital Management Corp now owns 1,820 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 528 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new stake in shares of AON in the fourth quarter valued at about $343,000. 88.62% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on AON. Citigroup raised their price target on AON from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, May 8th. TheStreet upgraded shares of AON from a “c” rating to an “a-” rating in a research note on Friday, May 4th. Wells Fargo set a $143.00 target price on shares of AON and gave the company a “hold” rating in a research note on Friday, May 4th. ValuEngine cut shares of AON from a “buy” rating to a “hold” rating in a research note on Friday, May 4th. Finally, Zacks Investment Research upgraded shares of AON from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. AON presently has a consensus rating of “Hold” and a consensus price target of $148.27.
AON (NYSE:AON) last announced its quarterly earnings results on Friday, May 4th. The financial services provider reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.15. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.95 billion. AON had a net margin of 14.28% and a return on equity of 39.65%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 earnings per share. sell-side analysts anticipate that Aon will post 8.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were paid a dividend of $0.40 per share. This is a boost from AON’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, April 30th. This represents a $1.60 dividend on an annualized basis and a yield of 1.14%. AON’s dividend payout ratio (DPR) is currently 24.54%.
In other AON news, CFO Christa Davies sold 3,237 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $140.99, for a total transaction of $456,384.63. Following the completion of the transaction, the chief financial officer now owns 233,327 shares in the company, valued at $32,896,773.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter M. Lieb sold 1,611 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $141.24, for a total transaction of $227,537.64. Following the transaction, the general counsel now owns 32,144 shares of the company’s stock, valued at approximately $4,540,018.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,883 shares of company stock valued at $1,391,791. Corporate insiders own 0.90% of the company’s stock.
AON Company Profile
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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