Aon plc (NYSE:AON) Holdings Cut by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp cut its stake in shares of Aon plc (NYSE:AON) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,057 shares of the financial services provider’s stock after selling 1,465 shares during the quarter. Alaska Permanent Fund Corp’s holdings in AON were worth $3,023,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Advisors Network LLC grew its position in AON by 5.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 32 shares during the last quarter. Signaturefd LLC grew its holdings in AON by 1.8% in the 4th quarter. Signaturefd LLC now owns 2,149 shares of the financial services provider’s stock worth $625,000 after buying an additional 38 shares in the last quarter. JFS Wealth Advisors LLC increased its position in AON by 3.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,246 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 38 shares during the period. Fisher Asset Management LLC boosted its position in AON by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,724 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 39 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of AON by 2.0% in the fourth quarter. UMB Bank n.a. now owns 2,010 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 40 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of AON from $326.00 to $312.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Citigroup initiated coverage on shares of AON in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on shares of AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on AON from $318.00 to $353.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $321.86.

AON Stock Down 0.4 %

Shares of AON stock opened at $296.59 on Friday. Aon plc has a 12-month low of $268.06 and a 12-month high of $347.37. The firm has a market capitalization of $64.49 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.91. The stock’s fifty day moving average is $291.18 and its 200-day moving average is $304.04.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the firm posted $5.17 EPS. AON’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts expect that Aon plc will post 15.48 EPS for the current year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.675 dividend. This is a positive change from AON’s previous quarterly dividend of $0.62. The ex-dividend date was Tuesday, April 30th. This represents a $2.70 dividend on an annualized basis and a yield of 0.91%. AON’s dividend payout ratio (DPR) is currently 21.16%.

Insiders Place Their Bets

In other AON news, Director Lester B. Knight bought 10,000 shares of AON stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the completion of the acquisition, the director now directly owns 139,000 shares of the company’s stock, valued at $38,448,790. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.15% of the company’s stock.

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.