Pictet Asset Management Holding SA Reduces Holdings in Aon plc $AON

Pictet Asset Management Holding SA reduced its stake in Aon plc (NYSE:AON) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 89,972 shares of the financial services provider’s stock after selling 3,994 shares during the period. Pictet Asset Management Holding SA’s holdings in AON were worth $29,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in shares of AON in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of AON during the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. purchased a new position in AON in the 4th quarter worth $29,000. Eagle Bay Advisors LLC acquired a new stake in AON during the 4th quarter worth about $30,000. Finally, Strive Asset Management LLC purchased a new stake in AON during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Piper Sandler cut their price target on shares of AON from $360.00 to $355.00 and set an “overweight” rating on the stock in a report on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a research report on Tuesday, April 21st. Barclays dropped their price objective on shares of AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Finally, Citigroup raised their target price on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, AON has an average rating of “Moderate Buy” and a consensus price target of $394.94.

AON Trading Up 3.5%

Shares of NYSE:AON opened at $343.34 on Thursday. 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 business has a 50 day moving average of $322.59 and a two-hundred day moving average of $330.57. The company has a market capitalization of $73.33 billion, a PE ratio of 18.84, a PEG ratio of 1.74 and a beta of 0.71.

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

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from AON’s previous quarterly dividend of $0.74. The ex-dividend date was Friday, May 1st. AON’s payout ratio is currently 18.00%.

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.