Nippon Life Global Investors Americas Inc. lessened its holdings in Aon PLC (NYSE:AON) by 5.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 109,810 shares of the financial services provider’s stock after selling 6,230 shares during the period. AON accounts for approximately 1.5% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 18th biggest position. Nippon Life Global Investors Americas Inc.’s holdings in AON were worth $18,744,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AON. Oregon Public Employees Retirement Fund grew its position in shares of AON by 14,228.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,840,266 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 3,813,464 shares in the last quarter. Norges Bank purchased a new position in shares of AON during the fourth quarter valued at about $176,885,000. BlackRock Inc. grew its position in shares of AON by 7.8% during the fourth quarter. BlackRock Inc. now owns 15,997,384 shares of the financial services provider’s stock valued at $2,325,380,000 after purchasing an additional 1,162,646 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of AON by 5.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,515,572 shares of the financial services provider’s stock valued at $3,272,864,000 after purchasing an additional 1,072,842 shares in the last quarter. Finally, Boston Partners grew its position in shares of AON by 33.3% during the fourth quarter. Boston Partners now owns 3,634,161 shares of the financial services provider’s stock valued at $528,261,000 after purchasing an additional 907,862 shares in the last quarter. Institutional investors and hedge funds own 84.63% of the company’s stock.
A number of brokerages have recently weighed in on AON. Barclays raised their price objective on AON from $155.00 to $182.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Co restated a “hold” rating and set a $173.00 price objective on shares of AON in a research report on Friday, April 26th. Morgan Stanley raised their price objective on AON from $169.00 to $182.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th. ValuEngine upgraded AON from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Finally, MKM Partners upgraded AON from a “neutral” rating to a “buy” rating and raised their price objective for the company from $155.00 to $200.00 in a research report on Monday, February 4th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. AON currently has a consensus rating of “Hold” and a consensus target price of $175.80.
NYSE AON traded up $0.61 during trading on Wednesday, hitting $180.96. The stock had a trading volume of 994,077 shares, compared to its average volume of 1,052,162. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market cap of $43.42 billion, a P/E ratio of 22.18, a PEG ratio of 1.75 and a beta of 0.94. Aon PLC has a one year low of $134.82 and a one year high of $182.60.
AON (NYSE:AON) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $3.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.31. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.21 billion. AON had a net margin of 11.08% and a return on equity of 46.15%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.97 earnings per share. As a group, equities research analysts expect that Aon PLC will post 9.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.76 annualized dividend and a yield of 0.97%. This is an increase from AON’s previous quarterly dividend of $0.40. AON’s dividend payout ratio (DPR) is presently 21.57%.
In other news, General Counsel Peter M. Lieb sold 5,200 shares of AON stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $178.39, for a total transaction of $927,628.00. Following the completion of the sale, the general counsel now owns 16,446 shares of the company’s stock, valued at $2,933,801.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Andersen sold 7,500 shares of AON stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.50, for a total transaction of $1,338,750.00. Following the transaction, the insider now directly owns 80,941 shares in the company, valued at $14,447,968.50. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.
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Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
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