Procyon Advisors LLC Sells 811 Shares of Aon plc (NYSE:AON)

Procyon Advisors LLC decreased its position in Aon plc (NYSE:AON) by 57.5% in the third quarter, Holdings Channel reports. The firm owned 599 shares of the financial services provider’s stock after selling 811 shares during the period. Procyon Advisors LLC’s holdings in AON were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AON. Radnor Capital Management LLC raised its holdings in AON by 203.6% in the first quarter. Radnor Capital Management LLC now owns 6,290 shares of the financial services provider’s stock worth $2,099,000 after purchasing an additional 4,218 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in AON in the second quarter worth $31,000. Norden Group LLC acquired a new position in shares of AON during the first quarter worth $2,044,000. Daiwa Securities Group Inc. boosted its position in shares of AON by 14.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 21,145 shares of the financial services provider’s stock worth $7,056,000 after purchasing an additional 2,624 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in AON during the 4th quarter worth $1,177,000. Institutional investors own 86.14% of the company’s stock.

AON Stock Up 0.2 %

AON stock opened at $358.48 on Thursday. Aon plc has a 12 month low of $268.06 and a 12 month high of $363.11. The stock has a market capitalization of $77.88 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.92. 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 business has a 50 day simple moving average of $344.73 and a 200-day simple moving average of $314.81.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($0.15). The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.76 earnings per share. On average, analysts anticipate that Aon plc will post 15.22 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.675 per share. The ex-dividend date is Friday, November 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.75%. AON’s payout ratio is currently 21.58%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley lowered their price target on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Jefferies Financial Group increased their price objective on AON from $344.00 to $365.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their target price on AON from $300.00 to $315.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on shares of AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $347.06.

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.