Bank of New York Mellon Corp lessened its stake in shares of Aon PLC (NYSE:AON) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,009,003 shares of the financial services provider’s stock after selling 53,631 shares during the period. Bank of New York Mellon Corp owned about 0.83% of AON worth $275,574,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AON. Massachusetts Financial Services Co. MA raised its stake in AON by 7.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 21,250,960 shares of the financial services provider’s stock valued at $2,914,992,000 after buying an additional 1,436,583 shares during the period. Principal Financial Group Inc. raised its stake in AON by 0.4% in the first quarter. Principal Financial Group Inc. now owns 6,079,415 shares of the financial services provider’s stock valued at $853,124,000 after buying an additional 23,060 shares during the period. Mawer Investment Management Ltd. raised its stake in AON by 2.9% in the second quarter. Mawer Investment Management Ltd. now owns 5,522,249 shares of the financial services provider’s stock valued at $757,487,000 after buying an additional 154,272 shares during the period. Boston Partners raised its stake in AON by 1.8% in the second quarter. Boston Partners now owns 2,598,538 shares of the financial services provider’s stock valued at $356,441,000 after buying an additional 45,026 shares during the period. Finally, Cantillon Capital Management LLC raised its stake in AON by 53.2% in the second quarter. Cantillon Capital Management LLC now owns 1,397,690 shares of the financial services provider’s stock valued at $191,721,000 after buying an additional 485,561 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.
In other news, Director Jeffrey C. Campbell bought 5,550 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were bought at an average price of $143.84 per share, with a total value of $798,312.00. Following the completion of the transaction, the director now owns 7,084 shares of the company’s stock, valued at $1,018,962.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Caroline Grace sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $155.00, for a total value of $620,000.00. Following the completion of the transaction, the chief executive officer now directly owns 45,796 shares in the company, valued at approximately $7,098,380. The disclosure for this sale can be found here. Insiders sold 8,750 shares of company stock worth $1,327,685 in the last ninety days. 0.42% of the stock is owned by company insiders.
AON (NYSE:AON) last posted its earnings results on Friday, October 26th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.22 by $0.09. AON had a return on equity of 43.96% and a net margin of 7.06%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts anticipate that Aon PLC will post 8.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, October 31st. AON’s payout ratio is 24.54%.
Several research firms have issued reports on AON. Credit Suisse Group began coverage on AON in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $154.00 price objective on the stock. Wells Fargo & Co upped their price objective on AON from $143.00 to $150.00 and gave the company a “market perform” rating in a research note on Monday. Zacks Investment Research lowered AON from a “buy” rating to a “hold” rating in a research note on Friday, July 6th. Sandler O’Neill upgraded AON from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Citigroup upped their price objective on AON from $167.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, October 12th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. AON has a consensus rating of “Hold” and an average price target of $157.29.
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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