Sompo Asset Management Co. Ltd. Decreases Stock Position in Aon plc (NYSE:AON)

Sompo Asset Management Co. Ltd. decreased its position in shares of Aon plc (NYSE:AON) by 23.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,700 shares of the financial services provider’s stock after selling 1,720 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in AON were worth $1,673,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC boosted its holdings in AON by 262.7% in 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 last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of AON by 10.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 76,853 shares of the financial services provider’s stock worth $224,000 after buying an additional 6,962 shares in the last quarter. Brown Advisory Inc. raised its holdings in AON by 9.6% in the fourth quarter. Brown Advisory Inc. now owns 6,689 shares of the financial services provider’s stock valued at $1,947,000 after acquiring an additional 587 shares in the last quarter. Clearbridge Investments LLC bought a new position in AON during the 4th quarter valued at $392,000. Finally, Corient Private Wealth LLC increased its position in shares of AON by 118.4% in the 4th quarter. Corient Private Wealth LLC now owns 85,041 shares of the financial services provider’s stock worth $24,749,000 after purchasing an additional 46,102 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AON shares. JPMorgan Chase & Co. boosted their price objective on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Wells Fargo & Company upped 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. Morgan Stanley cut their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 target price on shares of AON in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $337.27.

AON Trading Up 0.0 %

NYSE:AON opened at $347.03 on Friday. The stock’s 50-day moving average is $330.75 and its two-hundred day moving average is $311.42. 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 stock has a market cap of $75.46 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $353.54.

AON (NYSE:AON) last issued its earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (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 company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the business earned $2.76 EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts forecast 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. Stockholders of record on Thursday, August 1st were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.78%. AON’s dividend payout ratio (DPR) is 21.16%.

AON 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.