Barings LLC Cuts Holdings in Aon plc (NYSE:AON)

Barings LLC decreased its position in Aon plc (NYSE:AON) by 48.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,537 shares of the financial services provider’s stock after selling 5,301 shares during the period. Barings LLC’s holdings in AON were worth $1,626,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its position in AON by 3.9% in the first quarter. Proficio Capital Partners LLC now owns 1,016 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares during the last quarter. Avantax Advisory Services Inc. raised its position in AON by 5.5% in the first quarter. Avantax Advisory Services Inc. now owns 729 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 38 shares during the period. Fisher Asset Management LLC increased its stake in shares of AON by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,724 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 39 shares during the last quarter. Essex Financial Services Inc. increased its holdings in AON by 4.0% in the 2nd quarter. Essex Financial Services Inc. now owns 1,036 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 40 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of AON by 11.1% during the 1st quarter. GAMMA Investing LLC now owns 410 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Stock Performance

Shares of NYSE:AON opened at $344.80 on Thursday. Aon plc has a 1 year low of $268.06 and a 1 year high of $352.49. The firm has a market capitalization of $74.97 billion, a PE ratio of 27.02, a P/E/G ratio of 2.24 and a beta of 0.92. The business’s 50 day moving average price is $323.41 and its 200-day moving average price is $309.78. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($0.15). The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.76 EPS. As a group, equities research analysts expect that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, August 1st. AON’s payout ratio is currently 21.16%.

Analysts Set New Price Targets

Several analysts have weighed in on AON shares. Barclays started coverage on AON in a report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on AON from $311.00 to $353.00 and gave the company a “hold” rating in a report on Monday, August 26th. Wells Fargo & Company lifted their price target on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a report on Monday, July 29th. Citigroup initiated coverage on shares of AON in a research note on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 target price for the company. Finally, Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $337.27.

AON Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.