Moore Capital Management LP Reduces Stock Position in Aon plc $AON

Moore Capital Management LP lowered its holdings in shares of Aon plc (NYSE:AON) by 34.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,600 shares of the financial services provider’s stock after selling 72,592 shares during the quarter. AON accounts for 0.7% of Moore Capital Management LP’s portfolio, making the stock its 17th biggest holding. Moore Capital Management LP owned about 0.06% of AON worth $49,262,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Man Group plc boosted its holdings in AON by 137.7% during the 4th quarter. Man Group plc now owns 15,821 shares of the financial services provider’s stock valued at $5,583,000 after acquiring an additional 9,165 shares during the period. Independent Franchise Partners LLP raised its position in AON by 0.9% during the 4th quarter. Independent Franchise Partners LLP now owns 2,115,523 shares of the financial services provider’s stock valued at $746,526,000 after purchasing an additional 19,037 shares in the last quarter. Investment Management Corp of Ontario raised its position in AON by 81.0% during the 4th quarter. Investment Management Corp of Ontario now owns 17,372 shares of the financial services provider’s stock valued at $6,130,000 after purchasing an additional 7,776 shares in the last quarter. Evolve Private Wealth LLC bought a new stake in AON during the 4th quarter valued at $1,475,000. Finally, Ehrenkranz Partners L.P. bought a new stake in AON during the 4th quarter valued at $311,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Trading Down 1.3%

AON opened at $327.00 on Thursday. The firm has a market cap of $69.84 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.74 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. Aon plc has a 12 month low of $304.59 and a 12 month high of $381.00. The stock has a fifty day moving average price of $322.99 and a 200-day moving average price of $332.11.

AON (NYSE:AON) last released its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, topping the consensus estimate of $6.37 by $0.11. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.67 EPS. As a group, equities research analysts anticipate that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $0.82 per share. This is a positive change from AON’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 1st. This represents a $3.28 annualized dividend and a yield of 1.0%. AON’s dividend payout ratio (DPR) is presently 18.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AON shares. Wells Fargo & Company decreased their target price on AON from $443.00 to $402.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Morgan Stanley decreased their target price on AON from $380.00 to $370.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Barclays decreased their target price on AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. TD Cowen reissued a “buy” rating on shares of AON in a research report on Monday, March 16th. Finally, Piper Sandler reduced their price target on AON from $360.00 to $355.00 and set an “overweight” rating for the company in a research report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, AON has a consensus rating of “Moderate Buy” and an average price target of $394.94.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.