Envestnet Asset Management Inc. Sells 10,636 Shares of Aon plc (NYSE:AON)

Envestnet Asset Management Inc. decreased its stake in Aon plc (NYSE:AON) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 358,965 shares of the financial services provider’s stock after selling 10,636 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of AON worth $105,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of AON during the 4th quarter worth about $423,030,000. Meritage Group LP bought a new position in AON during the first quarter valued at about $258,471,000. Farallon Capital Management LLC acquired a new position in AON in the 1st quarter valued at approximately $210,911,000. Bank of New York Mellon Corp lifted its position in shares of AON by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock worth $587,445,000 after acquiring an additional 548,563 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AON by 32.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock worth $648,663,000 after purchasing an additional 471,424 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

AON Stock Performance

Shares of AON stock opened at $350.69 on Tuesday. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a 50 day simple moving average of $326.56 and a 200 day simple moving average of $310.44. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $353.54. The firm has a market cap of $76.25 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.24 and a beta of 0.92.

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

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio (DPR) is 21.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AON shares. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $335.00 target price on shares of AON in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Barclays assumed coverage on AON in a report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $337.27.

About AON

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.