Welch & Forbes LLC trimmed its position in Aon plc (NYSE:AON) by 15.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 850 shares of the financial services provider’s stock after selling 150 shares during the quarter. Welch & Forbes LLC’s holdings in AON were worth $243,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in AON. Verition Fund Management LLC acquired a new position in shares of AON in the first quarter worth about $351,000. D. E. Shaw & Co. Inc. lifted its position in shares of AON by 251.7% in the first quarter. D. E. Shaw & Co. Inc. now owns 8,972 shares of the financial services provider’s stock worth $2,065,000 after purchasing an additional 14,886 shares in the last quarter. TownSquare Capital LLC lifted its position in shares of AON by 56.6% in the first quarter. TownSquare Capital LLC now owns 2,589 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 936 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of AON in the first quarter worth approximately $296,000. Finally, Baker Tilly Wealth Management LLC purchased a new stake in shares of AON in the first quarter worth approximately $465,000. Institutional investors own 98.22% of the company’s stock.
In other AON news, Director Byron Spruell acquired 200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was acquired at an average cost of $296.32 per share, for a total transaction of $59,264.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.99% of the stock is currently owned by insiders.
AON (NYSE:AON) last issued its earnings results on Thursday, October 28th. The financial services provider reported $1.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.04. AON had a net margin of 7.58% and a return on equity of 67.50%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that Aon plc will post 11.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Monday, November 1st were issued a dividend of $0.51 per share. The ex-dividend date was Friday, October 29th. This represents a $2.04 annualized dividend and a yield of 0.68%. AON’s dividend payout ratio is currently 51.78%.
A number of analysts have recently issued reports on AON shares. Royal Bank of Canada increased their price target on shares of AON from $275.00 to $320.00 and gave the stock a “sector perform” rating in a research report on Monday, November 1st. They noted that the move was a valuation call. Jefferies Financial Group assumed coverage on shares of AON in a research report on Thursday, November 18th. They issued a “hold” rating and a $313.00 price target for the company. MKM Partners raised their price objective on shares of AON from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, November 1st. JPMorgan Chase & Co. lowered shares of AON from an “overweight” rating to a “neutral” rating and set a $283.00 price objective on the stock. in a research report on Monday, October 4th. Finally, Morgan Stanley raised their price objective on shares of AON from $298.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 2nd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, AON currently has an average rating of “Hold” and an average price target of $296.90.
Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.
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