Aon plc $AON Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC lowered its holdings in shares of Aon plc (NYSE:AON) by 2.1% in the second quarter, HoldingsChannel.com reports. The fund owned 3,985 shares of the financial services provider’s stock after selling 85 shares during the quarter. Ellis Investment Partners LLC’s holdings in AON were worth $1,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AON. Polen Capital Management LLC raised its position in AON by 318.1% during the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock worth $1,200,350,000 after acquiring an additional 2,288,397 shares during the last quarter. Nuveen LLC purchased a new stake in shares of AON during the first quarter worth about $505,108,000. Wellington Management Group LLP purchased a new stake in shares of AON during the first quarter worth about $490,634,000. Bank of New York Mellon Corp grew its holdings in shares of AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider’s stock worth $1,210,864,000 after buying an additional 469,238 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of AON by 276.0% during the second quarter. Vontobel Holding Ltd. now owns 460,971 shares of the financial services provider’s stock worth $164,456,000 after buying an additional 338,373 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Price Performance

AON opened at $359.82 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 52-week low of $323.73 and a 52-week high of $412.97. The company has a 50 day moving average of $364.41 and a two-hundred day moving average of $362.53. The company has a market cap of $77.59 billion, a P/E ratio of 30.14, a P/E/G ratio of 2.14 and a beta of 0.89.

AON (NYSE:AON) last released its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. AON’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts expect that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, November 3rd. AON’s payout ratio is currently 24.96%.

Wall Street Analyst Weigh In

AON has been the subject of a number of recent research reports. Cantor Fitzgerald upgraded shares of AON to a “strong-buy” rating in a report on Wednesday, August 13th. Wolfe Research initiated coverage on shares of AON in a report on Monday, September 15th. They set a “peer perform” rating for the company. Wells Fargo & Company lowered their target price on shares of AON from $451.00 to $448.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Morgan Stanley upgraded shares of AON from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $385.00 to $430.00 in a report on Thursday, September 11th. Finally, Piper Sandler boosted their target price on shares of AON from $393.00 to $413.00 and gave the company an “overweight” rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.00.

AON Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.