Aon plc $AON Shares Sold by Flower City Capital

Flower City Capital reduced its stake in Aon plc (NYSE:AON) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 774 shares of the financial services provider’s stock after selling 86 shares during the period. Flower City Capital’s holdings in AON were worth $276,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new position in AON in the first quarter valued at $28,000. Saudi Central Bank purchased a new position in AON in the first quarter valued at $31,000. Pinnacle Bancorp Inc. increased its holdings in AON by 56.9% in the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after buying an additional 33 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings in AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after buying an additional 29 shares during the last quarter. Finally, Tsfg LLC purchased a new position in AON in the first quarter valued at $37,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Price Performance

Shares of AON opened at $356.24 on Friday. Aon plc has a fifty-two week low of $323.73 and a fifty-two week high of $412.97. The company has a market capitalization of $76.81 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87. The firm has a 50-day simple moving average of $363.72 and a 200-day simple moving average of $365.22. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52.

AON (NYSE:AON) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.09. AON had a net margin of 15.54% and a return on equity of 50.91%. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the firm earned $2.93 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.745 per share. The ex-dividend date was Friday, August 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. AON’s dividend payout ratio is 24.96%.

Wall Street Analyst Weigh In

Several research firms recently commented on AON. Barclays reissued an “overweight” rating and issued a $420.00 target price (up previously from $401.00) on shares of AON in a report on Thursday, July 31st. Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and increased their target price for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $438.00 price objective (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. Citigroup began coverage on AON in a report on Wednesday, August 13th. They set a “neutral” rating and a $402.00 price objective on the stock. Finally, TD Cowen dropped their price objective on AON from $427.00 to $419.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AON presently has a consensus rating of “Moderate Buy” and a consensus target price of $414.69.

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.