Seven Eight Capital LP Has $1.22 Million Position in Aon plc (NYSE:AON)

Seven Eight Capital LP trimmed its position in Aon plc (NYSE:AON) by 36.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,151 shares of the financial services provider’s stock after selling 2,365 shares during the quarter. Seven Eight Capital LP’s holdings in AON were worth $1,219,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of AON by 6.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,070 shares of the financial services provider’s stock worth $4,640,000 after acquiring an additional 970 shares during the period. Amalgamated Bank lifted its holdings in AON by 3.5% during the 2nd quarter. Amalgamated Bank now owns 42,672 shares of the financial services provider’s stock valued at $12,528,000 after purchasing an additional 1,456 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in AON by 11.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,850 shares of the financial services provider’s stock worth $1,130,000 after purchasing an additional 407 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of AON by 43.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,698 shares of the financial services provider’s stock valued at $4,021,000 after purchasing an additional 4,122 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in shares of AON by 4.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 27,418 shares of the financial services provider’s stock worth $8,049,000 after buying an additional 1,168 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on AON shares. JPMorgan Chase & Co. increased their price target on shares of AON from $353.00 to $379.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Wells Fargo & Company lifted their price target on AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $335.00 price objective on shares of AON in a report on Monday, August 5th. Barclays started coverage on shares of AON in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 target price for the company. Finally, Piper Sandler raised their price target on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, AON presently has an average rating of “Hold” and an average price target of $337.27.

AON Stock Down 0.7 %

NYSE AON opened at $346.97 on Friday. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $353.54. The business has a fifty day moving average price of $329.77 and a two-hundred day moving average price of $311.20. 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 capitalization of $75.38 billion, a PE ratio of 27.19, a PEG ratio of 2.26 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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The business had revenue of $3.76 billion during 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%. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.76 EPS. Equities analysts expect that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Announces Dividend

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