Aon plc (NYSE:AON) is Spears Abacus Advisors LLC’s 7th Largest Position

Spears Abacus Advisors LLC reduced its position in Aon plc (NYSE:AON) by 0.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,583 shares of the financial services provider’s stock after selling 111 shares during the quarter. AON accounts for about 3.3% of Spears Abacus Advisors LLC’s holdings, making the stock its 7th largest holding. Spears Abacus Advisors LLC owned approximately 0.06% of AON worth $37,073,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in AON by 1.5% during the first quarter. BlackRock Inc. now owns 13,947,244 shares of the financial services provider’s stock valued at $4,397,426,000 after buying an additional 210,313 shares during the period. Geode Capital Management LLC boosted its stake in shares of AON by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,021,085 shares of the financial services provider’s stock valued at $1,204,600,000 after purchasing an additional 21,190 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of AON by 106,777.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,817,279 shares of the financial services provider’s stock worth $845,578,000 after purchasing an additional 2,814,643 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of AON by 2.7% in the fourth quarter. Neuberger Berman Group LLC now owns 2,656,354 shares of the financial services provider’s stock worth $797,363,000 after buying an additional 70,574 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in AON during the 1st quarter valued at $721,085,000. 86.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AON shares. Piper Sandler decreased their price objective on shares of AON from $325.00 to $322.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $352.00 price objective on shares of AON in a report on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating and set a $340.00 target price on shares of AON in a research note on Tuesday, August 1st. StockNews.com began coverage on AON in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Bank of America boosted their price objective on shares of AON from $365.00 to $380.00 in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $341.55.

AON Stock Up 1.1 %

Shares of NYSE AON traded up $3.51 on Tuesday, reaching $336.66. 398,477 shares of the company’s stock traded hands, compared to its average volume of 814,209. The business’s 50 day simple moving average is $329.73 and its two-hundred day simple moving average is $322.42. Aon plc has a 12 month low of $266.35 and a 12 month high of $347.37. The company has a market cap of $68.30 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 61.66.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 28th. The financial services provider reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). AON had a net margin of 20.78% and a negative return on equity of 1,312.86%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same period last year, the business earned $2.63 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Aon plc will post 14.26 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Monday, July 31st. AON’s payout ratio is 19.16%.

Insider Buying and Selling at AON

In other news, Director Byron Spruell bought 800 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $324.57 per share, for a total transaction of $259,656.00. Following the completion of the purchase, the director now owns 4,001 shares in the company, valued at approximately $1,298,604.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.15% of the stock is owned by company insiders.

AON Company Profile

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health 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.