Chicago Capital LLC Reduces Stock Holdings in Aon plc (NYSE:AON)

Chicago Capital LLC lessened its stake in Aon plc (NYSE:AON) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,925 shares of the financial services provider’s stock after selling 325 shares during the quarter. Chicago Capital LLC’s holdings in AON were worth $666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AON. Raymond James & Associates raised its holdings in AON by 6.3% in the 3rd quarter. Raymond James & Associates now owns 215,322 shares of the financial services provider’s stock worth $74,499,000 after purchasing an additional 12,850 shares during the period. Friedenthal Financial acquired a new position in AON in the 3rd quarter worth about $754,000. Net Worth Advisory Group acquired a new position in AON in the 3rd quarter worth about $270,000. Stratos Wealth Advisors LLC raised its holdings in AON by 3.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,621 shares of the financial services provider’s stock worth $561,000 after purchasing an additional 56 shares during the period. Finally, Trust Point Inc. raised its holdings in AON by 4.5% in the 3rd quarter. Trust Point Inc. now owns 851 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Down 0.2 %

Shares of AON stock opened at $357.93 on Monday. The firm has a market capitalization of $77.76 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.32 and a beta of 0.92. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $363.46. 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 stock has a 50 day moving average of $345.94 and a 200 day moving average of $315.14.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.76 earnings per share. As a group, research analysts predict that Aon plc will post 15.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.675 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.70 annualized dividend and a yield of 0.75%. AON’s payout ratio is 21.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Jefferies Financial Group upped their price target on AON from $344.00 to $365.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $313.00 to $380.00 in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $335.00 price objective on shares of AON in a research note on Monday, August 5th. Finally, Evercore ISI boosted their price objective on AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, AON has an average rating of “Hold” and an average price target of $347.06.

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.