Delta Investment Management LLC Sells 68 Shares of Aon plc (NYSE:AON)

Delta Investment Management LLC cut its stake in shares of Aon plc (NYSE:AON) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,042 shares of the financial services provider’s stock after selling 68 shares during the period. Delta Investment Management LLC’s holdings in AON were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AON. Farallon Capital Management LLC increased its position in shares of AON by 196.7% during the second quarter. Farallon Capital Management LLC now owns 1,875,200 shares of the financial services provider’s stock valued at $550,521,000 after buying an additional 1,243,200 shares during the period. Meritage Group LP purchased a new position in shares of AON during the first quarter worth about $258,471,000. Bank of New York Mellon Corp grew its holdings in shares of AON by 37.8% during the second 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 purchasing an additional 548,563 shares in the last quarter. Stone Point Capital LLC purchased a new position in shares of AON during the second quarter worth about $151,808,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AON by 32.0% during the first 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. 86.14% of the stock is currently owned by institutional investors.

AON Stock Performance

NYSE:AON opened at $347.16 on Friday. The firm has a market cap of $75.42 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.24 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. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The business has a 50 day moving average price of $333.70 and a 200-day moving average price of $312.04.

AON (NYSE:AON) last announced its 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). The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. AON’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.76 EPS. Equities research analysts predict that Aon plc will post 15.23 earnings per share for the current year.

AON Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $335.00 target price on shares of AON in a research note on Monday, August 5th. Piper Sandler upped their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Barclays started coverage on AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 target price for the company. Finally, Morgan Stanley cut their target price on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, AON has an average rating of “Hold” and a consensus price target of $337.27.

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.