Fiduciary Group LLC Trims Holdings in Aon plc (NYSE:AON)

Fiduciary Group LLC trimmed its position in Aon plc (NYSE:AON) by 3.3% during the first quarter, Holdings Channel.com reports. The firm owned 28,928 shares of the financial services provider’s stock after selling 978 shares during the period. AON accounts for about 1.2% of Fiduciary Group LLC’s holdings, making the stock its 20th largest holding. Fiduciary Group LLC’s holdings in AON were worth $9,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gluskin Sheff & Assoc Inc. lifted its holdings in shares of AON by 32.0% during the 1st quarter. Gluskin Sheff & Assoc Inc. now owns 152,709 shares of the financial services provider’s stock worth $48,148,000 after acquiring an additional 37,046 shares during the period. Grayhawk Investment Strategies Inc. purchased a new position in shares of AON during the 1st quarter worth about $61,000. Greenwood Gearhart Inc. lifted its holdings in shares of AON by 1.7% during the 1st quarter. Greenwood Gearhart Inc. now owns 51,698 shares of the financial services provider’s stock worth $16,300,000 after acquiring an additional 846 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of AON by 412.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,137 shares of the financial services provider’s stock worth $5,403,000 after acquiring an additional 13,792 shares during the period. Finally, Brookfield Corp ON purchased a new position in shares of AON during the 1st quarter worth about $307,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AON

In related news, Director Byron Spruell purchased 800 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was acquired at an average price of $324.57 per share, with a total value of $259,656.00. Following the completion of the transaction, the director now owns 4,001 shares of the company’s stock, valued at $1,298,604.57. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

AON has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $352.00 price objective on shares of AON in a report on Monday, July 31st. JPMorgan Chase & Co. increased their target price on shares of AON from $322.00 to $351.00 in a research report on Thursday, July 6th. Bank of America increased their target price on shares of AON from $365.00 to $380.00 in a research report on Sunday, July 30th. StockNews.com began coverage on shares of AON in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Piper Sandler dropped their target price on shares of AON from $325.00 to $322.00 and set a “neutral” rating for the company in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, AON currently has an average rating of “Hold” and an average target price of $341.55.

AON Stock Up 0.5 %

NYSE:AON traded up $1.54 during trading hours on Tuesday, hitting $334.69. The stock had a trading volume of 243,382 shares, compared to its average volume of 813,307. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 61.66. Aon plc has a 1-year low of $266.35 and a 1-year high of $347.37. The business has a 50 day simple moving average of $329.73 and a two-hundred day simple moving average of $322.42. The company has a market cap of $67.90 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, July 28th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same period last year, the business earned $2.63 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts predict that Aon plc will post 14.26 EPS for the current year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Monday, July 31st. AON’s payout ratio is currently 19.16%.

About AON

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.