Victory Capital Management Inc. Sells 1,036 Shares of Aon plc (NYSE:AON)

Victory Capital Management Inc. trimmed its position in Aon plc (NYSE:AON) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 74,395 shares of the financial services provider’s stock after selling 1,036 shares during the quarter. Victory Capital Management Inc.’s holdings in AON were worth $21,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hudock Inc. purchased a new position in AON during the 2nd quarter worth $506,000. Kornitzer Capital Management Inc. KS boosted its holdings in AON by 0.3% in the second quarter. Kornitzer Capital Management Inc. KS now owns 46,689 shares of the financial services provider’s stock worth $13,707,000 after acquiring an additional 122 shares in the last quarter. First Pacific Advisors LP increased its holdings in shares of AON by 2.1% during the second quarter. First Pacific Advisors LP now owns 736,821 shares of the financial services provider’s stock valued at $216,316,000 after acquiring an additional 15,017 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in shares of AON by 6.3% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 1,283 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 76 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in AON by 20.6% in the 2nd quarter. TD Asset Management Inc now owns 88,499 shares of the financial services provider’s stock worth $25,982,000 after purchasing an additional 15,105 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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 report on Monday, August 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $335.00 target price on shares of AON in a research note on Monday, August 5th. 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. Piper Sandler raised their price objective on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Citigroup began coverage on shares of AON in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $337.27.

AON Stock Performance

Shares of NYSE AON opened at $344.80 on Thursday. Aon plc has a 1 year low of $268.06 and a 1 year high of $352.49. 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 company’s fifty day moving average price is $323.41 and its 200 day moving average price is $309.78. The company has a market capitalization of $74.97 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.

AON (NYSE:AON) last posted 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $2.76 earnings per share. On average, research analysts predict that Aon plc will post 15.23 earnings per share for the current year.

AON Dividend Announcement

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

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.