Massachusetts Financial Services Co. MA Lowers Stake in Aon plc $AON

Massachusetts Financial Services Co. MA cut its position in shares of Aon plc (NYSE:AON) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,952,011 shares of the financial services provider’s stock after selling 880,316 shares during the period. AON comprises about 1.0% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 12th largest position. Massachusetts Financial Services Co. MA’s holdings in AON were worth $3,193,719,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AON. Apollon Wealth Management LLC grew its stake in AON by 7.7% during the first quarter. Apollon Wealth Management LLC now owns 2,236 shares of the financial services provider’s stock worth $892,000 after buying an additional 159 shares during the period. Graypoint LLC raised its stake in shares of AON by 66.5% during the first quarter. Graypoint LLC now owns 2,496 shares of the financial services provider’s stock valued at $996,000 after purchasing an additional 997 shares during the period. Forum Financial Management LP lifted its position in shares of AON by 4.2% during the first quarter. Forum Financial Management LP now owns 990 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 40 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in AON during the 1st quarter worth $802,000. Finally, Markel Group Inc. lifted its holdings in AON by 2.6% in the 1st quarter. Markel Group Inc. now owns 129,450 shares of the financial services provider’s stock worth $51,662,000 after buying an additional 3,250 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Trading Down 0.3%

Shares of NYSE:AON opened at $349.98 on Friday. The company has a 50 day moving average of $351.87 and a 200-day moving average of $357.56. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The firm has a market cap of $75.22 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.92 and a beta of 0.86. Aon plc has a twelve month low of $323.73 and a twelve month high of $412.97.

AON (NYSE:AON) last announced its earnings results on Thursday, October 30th. The financial services provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.91 by $0.14. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.97 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.72 earnings per share. As a group, analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, November 3rd. AON’s payout ratio is presently 23.88%.

Analysts Set New Price Targets

AON has been the topic of a number of analyst reports. Piper Sandler lifted their target price on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. cut their target price on AON from $436.00 to $433.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Roth Capital restated a “buy” rating and issued a $390.00 price target on shares of AON in a research note on Tuesday, November 4th. TD Cowen dropped their target price on shares of AON from $419.00 to $416.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, UBS Group reduced their price target on shares of AON from $400.00 to $390.00 and set a “neutral” rating for the company in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $419.13.

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.