Aon plc $AON Stake Cut by Belpointe Asset Management LLC

Belpointe Asset Management LLC trimmed its stake in Aon plc (NYSE:AON) by 24.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,839 shares of the financial services provider’s stock after selling 940 shares during the quarter. Belpointe Asset Management LLC’s holdings in AON were worth $1,013,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AON. Polen Capital Management LLC lifted its stake in AON by 318.1% in the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock valued at $1,200,350,000 after buying an additional 2,288,397 shares during the last quarter. Nuveen LLC bought a new stake in AON in the first quarter valued at $505,108,000. Wellington Management Group LLP bought a new stake in AON in the first quarter valued at $490,634,000. Bank of New York Mellon Corp lifted its stake in AON by 18.3% in the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider’s stock valued at $1,210,864,000 after buying an additional 469,238 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of AON by 205.1% during the first quarter. Assenagon Asset Management S.A. now owns 493,694 shares of the financial services provider’s stock valued at $197,028,000 after purchasing an additional 331,888 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AON. Morgan Stanley upgraded shares of AON from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $385.00 to $430.00 in a research note on Thursday, September 11th. Evercore ISI lifted their price objective on shares of AON from $421.00 to $427.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. TD Cowen cut their price objective on shares of AON from $427.00 to $419.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Weiss Ratings restated a “buy (b-)” rating on shares of AON in a research note on Saturday, September 27th. Finally, Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and lifted their target price for the stock from $400.00 to $426.00 in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AON currently has an average rating of “Moderate Buy” and an average price target of $415.06.

AON Trading Up 0.4%

Shares of AON opened at $367.23 on Wednesday. The business’s 50-day moving average price is $363.98 and its 200 day moving average price is $363.47. The stock has a market capitalization of $79.19 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.17 and a beta of 0.89. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93.

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

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.745 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. AON’s dividend payout ratio (DPR) is currently 24.96%.

AON Company 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.