Broadway Wealth Solutions Inc. Trims Stock Holdings in Aon plc (NYSE:AON)

Broadway Wealth Solutions Inc. reduced its stake in Aon plc (NYSE:AON) by 7.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 770 shares of the financial services provider’s stock after selling 65 shares during the period. Broadway Wealth Solutions Inc.’s holdings in AON were worth $307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AON. Millstone Evans Group LLC purchased a new stake in AON during the fourth quarter worth about $32,000. Centricity Wealth Management LLC purchased a new stake in AON during the fourth quarter worth about $39,000. Kestra Investment Management LLC purchased a new stake in AON during the fourth quarter worth about $39,000. Nemes Rush Group LLC purchased a new stake in shares of AON during the fourth quarter worth approximately $55,000. Finally, Orion Capital Management LLC purchased a new stake in shares of AON during the fourth quarter worth approximately $63,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Trading Up 0.2%

Shares of AON stock opened at $371.31 on Friday. The firm has a 50-day moving average price of $364.26 and a 200 day moving average price of $373.90. Aon plc has a twelve month low of $283.27 and a twelve month high of $412.97. The company has a market capitalization of $80.18 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.12 and a beta of 0.86. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.58.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing the consensus estimate of $6.04 by ($0.37). The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.83 billion. AON had a net margin of 16.91% and a return on equity of 70.84%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.66 EPS. Research analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.745 dividend. This is a boost from AON’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, May 1st. This represents a $2.98 annualized dividend and a yield of 0.80%. AON’s payout ratio is 25.38%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI cut their target price on shares of AON from $420.00 to $398.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group upgraded shares of AON from a “neutral” rating to a “buy” rating and set a $408.00 target price on the stock in a research note on Tuesday, May 13th. Redburn Atlantic upgraded shares of AON to a “hold” rating in a research note on Tuesday, March 25th. Jefferies Financial Group upped their target price on shares of AON from $396.00 to $416.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, Redburn Partners set a $445.00 target price on shares of AON in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $397.27.

About AON

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.