M&T Bank Corp lowered its stake in Aon PLC (NYSE:AON) by 11.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,334 shares of the financial services provider’s stock after selling 4,324 shares during the quarter. M&T Bank Corp’s holdings in AON were worth $6,612,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in AON. Guggenheim Capital LLC lifted its position in AON by 18.6% in the fourth quarter. Guggenheim Capital LLC now owns 76,755 shares of the financial services provider’s stock valued at $15,988,000 after purchasing an additional 12,059 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of AON by 4.1% during the fourth quarter. Advisors Asset Management Inc. now owns 1,518 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 60 shares in the last quarter. Pearl River Capital LLC bought a new position in shares of AON during the fourth quarter valued at approximately $241,000. Macquarie Group Ltd. raised its holdings in shares of AON by 2.7% during the fourth quarter. Macquarie Group Ltd. now owns 108,885 shares of the financial services provider’s stock valued at $22,679,000 after acquiring an additional 2,817 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of AON by 23.6% during the fourth quarter. Franklin Resources Inc. now owns 2,955 shares of the financial services provider’s stock valued at $615,000 after acquiring an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 84.75% of the company’s stock.
NYSE AON opened at $205.22 on Friday. Aon PLC has a 12 month low of $143.93 and a 12 month high of $238.19. The stock has a market cap of $47.52 billion, a P/E ratio of 29.57 and a beta of 0.88. The stock’s fifty day moving average price is $194.84 and its 200-day moving average price is $196.09. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.91.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $0.44 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.86%. AON’s dividend payout ratio is currently 19.19%.
In related news, President Eric Andersen sold 1,500 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $199.13, for a total transaction of $298,695.00. Following the sale, the president now directly owns 102,814 shares of the company’s stock, valued at $20,473,351.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Y. Woo sold 600 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $197.80, for a total value of $118,680.00. Following the sale, the director now directly owns 25,687 shares in the company, valued at $5,080,888.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,850 shares of company stock worth $560,250. Insiders own 0.92% of the company’s stock.
AON has been the subject of a number of recent analyst reports. William Blair restated a “buy” rating on shares of AON in a report on Tuesday, June 9th. Wells Fargo & Co decreased their target price on AON from $232.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, May 4th. MKM Partners decreased their price objective on AON from $260.00 to $215.00 and set a “buy” rating for the company in a report on Monday, May 4th. Citigroup decreased their price objective on AON from $260.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, Jefferies Financial Group increased their price objective on AON from $214.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $209.27.
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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