Conning Inc. cut its stake in shares of Aon PLC (NYSE:AON) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,864 shares of the financial services provider’s stock after selling 160 shares during the period. Conning Inc.’s holdings in AON were worth $830,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AON. Paloma Partners Management Co purchased a new position in shares of AON during the 3rd quarter worth approximately $308,000. Thrivent Financial for Lutherans raised its stake in shares of AON by 3.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,711 shares of the financial services provider’s stock worth $1,955,000 after buying an additional 384 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of AON by 0.6% during the 3rd quarter. Macquarie Group Ltd. now owns 101,038 shares of the financial services provider’s stock worth $15,537,000 after buying an additional 635 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of AON by 7.6% during the 3rd quarter. AQR Capital Management LLC now owns 164,720 shares of the financial services provider’s stock worth $25,331,000 after buying an additional 11,664 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of AON during the 3rd quarter worth approximately $2,085,000. 84.94% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on AON. Wells Fargo & Co reissued a “hold” rating on shares of AON in a research note on Friday, April 5th. Barclays increased their target price on AON from $153.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, April 1st. ValuEngine raised AON from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. William Blair reissued a “market perform” rating on shares of AON in a research note on Friday, February 1st. Finally, MKM Partners raised AON from a “neutral” rating to a “buy” rating and increased their target price for the stock from $155.00 to $200.00 in a research note on Monday, February 4th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. AON presently has an average rating of “Hold” and a consensus target price of $169.30.
AON (NYSE:AON) last released its quarterly earnings results on Friday, February 1st. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.82 billion. AON had a return on equity of 43.49% and a net margin of 10.53%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. As a group, equities research analysts forecast that Aon PLC will post 9.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.44 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from AON’s previous quarterly dividend of $0.40. AON’s dividend payout ratio is currently 19.61%.
In related news, General Counsel Peter M. Lieb sold 15,068 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $172.77, for a total value of $2,603,298.36. Following the sale, the general counsel now owns 17,985 shares in the company, valued at approximately $3,107,268.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christa Davies sold 58,152 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 288,016 shares in the company, valued at approximately $49,221,934.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,470 shares of company stock worth $12,756,050. Insiders own 0.42% of the company’s stock.
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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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