American International Group Inc. trimmed its holdings in Aon PLC (NYSE:AON) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 92,476 shares of the financial services provider’s stock after selling 875 shares during the quarter. American International Group Inc.’s holdings in AON were worth $15,786,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Toronto Dominion Bank grew its position in AON by 17.1% in the first quarter. Toronto Dominion Bank now owns 156,119 shares of the financial services provider’s stock worth $26,643,000 after acquiring an additional 22,779 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in shares of AON by 2.4% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 42,145 shares of the financial services provider’s stock worth $7,194,000 after buying an additional 1,000 shares during the period. State Treasurer State of Michigan boosted its position in shares of AON by 0.3% during the first quarter. State Treasurer State of Michigan now owns 69,147 shares of the financial services provider’s stock worth $11,803,000 after buying an additional 200 shares during the period. Cetera Advisor Networks LLC boosted its position in shares of AON by 2.1% during the first quarter. Cetera Advisor Networks LLC now owns 4,988 shares of the financial services provider’s stock worth $848,000 after buying an additional 102 shares during the period. Finally, First Allied Advisory Services Inc. boosted its position in shares of AON by 28.7% during the first quarter. First Allied Advisory Services Inc. now owns 2,504 shares of the financial services provider’s stock worth $429,000 after buying an additional 558 shares during the period. Institutional investors own 84.63% of the company’s stock.
Several research firms have recently commented on AON. Morgan Stanley raised their price target on AON from $169.00 to $182.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Barclays raised their price target on AON from $153.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. ValuEngine upgraded AON from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Wells Fargo & Co restated a “hold” rating on shares of AON in a research report on Friday, April 5th. Finally, William Blair restated a “market perform” rating on shares of AON in a research report on Friday, February 1st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. AON has a consensus rating of “Hold” and a consensus price target of $173.10.
AON (NYSE:AON) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $3.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.31. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.21 billion. AON had a return on equity of 46.15% and a net margin of 11.08%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $2.97 earnings per share. As a group, analysts anticipate that Aon PLC will post 9.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.44 dividend. This is a boost from AON’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, April 30th. AON’s dividend payout ratio (DPR) is presently 21.57%.
In other news, CFO Christa Davies sold 58,152 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $170.90, for a total value of $9,938,176.80. Following the sale, the chief financial officer now directly owns 288,016 shares in the company, valued at $49,221,934.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Neller sold 1,250 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $171.66, for a total value of $214,575.00. Following the completion of the sale, the insider now owns 5,188 shares in the company, valued at $890,572.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,170 shares of company stock worth $15,022,428. Insiders own 0.92% of the company’s stock.
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AON Company Profile
Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
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