Fiduciary Group LLC Cuts Stake in Aon plc (NYSE:AON)

Fiduciary Group LLC decreased its stake in Aon plc (NYSE:AON) by 5.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 23,126 shares of the financial services provider’s stock after selling 1,436 shares during the period. Fiduciary Group LLC’s holdings in AON were worth $6,789,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Gryphon Financial Partners LLC grew its holdings in AON by 262.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock valued at $1,181,000 after purchasing an additional 2,989 shares during the period. Principal Securities Inc. purchased a new stake in AON in the 4th quarter worth about $253,000. Janney Montgomery Scott LLC raised its stake in AON by 227.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 44,615 shares of the financial services provider’s stock valued at $12,985,000 after acquiring an additional 31,010 shares during the period. NorthRock Partners LLC boosted its position in AON by 25.1% during the fourth quarter. NorthRock Partners LLC now owns 1,291 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 259 shares during the period. Finally, Financial Advocates Investment Management increased its stake in shares of AON by 47.8% in the fourth quarter. Financial Advocates Investment Management now owns 1,923 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 622 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

AON Trading Down 0.1 %

Shares of AON stock opened at $347.85 on Friday. The business has a 50-day moving average price of $325.51 and a two-hundred day moving average price of $310.28. Aon plc has a 12-month low of $268.06 and a 12-month high of $352.49. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. The firm has a market cap of $75.57 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the business earned $2.76 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. Equities analysts anticipate that Aon plc will post 15.23 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.675 per share. The ex-dividend date was Thursday, August 1st. This represents a $2.70 annualized dividend and a yield of 0.78%. AON’s payout ratio is 21.16%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AON shares. JPMorgan Chase & Co. lifted their price objective on shares of AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Citigroup began coverage on AON in a research note on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price objective on the stock. Wells Fargo & Company lifted their target price on AON from $287.00 to $300.00 and gave the company an “underweight” rating in a report on Monday, July 29th. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Finally, Piper Sandler boosted their price objective on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $337.27.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.