Pacer Advisors Inc. Sells 3,188 Shares of Aon plc (NYSE:AON)

Pacer Advisors Inc. reduced its stake in Aon plc (NYSE:AON – Get Rating) by 22.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,059 shares of the financial services provider’s stock after selling 3,188 shares during the period. Pacer Advisors Inc.’s holdings in AON were worth $3,601,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hanson & Doremus Investment Management bought a new stake in shares of AON during the fourth quarter valued at approximately $30,000. City State Bank bought a new stake in shares of AON during the fourth quarter valued at approximately $29,000. Concord Wealth Partners raised its stake in shares of AON by 103.8% during the fourth quarter. Concord Wealth Partners now owns 108 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 55 shares in the last quarter. Equitec Proprietary Markets LLC bought a new position in AON in the fourth quarter worth approximately $36,000. Finally, Newbridge Financial Services Group Inc. raised its stake in AON by 191.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the financial services provider’s stock worth $41,000 after buying an additional 90 shares in the last quarter. 85.01% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Lester B. Knight acquired 14,000 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was acquired at an average price of $286.58 per share, for a total transaction of $4,012,120.00. Following the completion of the transaction, the director now owns 109,000 shares in the company, valued at approximately $31,237,220. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.99% of the company’s stock.

A number of brokerages recently commented on AON. Morgan Stanley downgraded shares of AON from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $320.00 to $250.00 in a research note on Friday, June 3rd. Wells Fargo & Company reduced their price objective on shares of AON from $321.00 to $310.00 in a research note on Monday, May 2nd. Finally, StockNews.com began coverage on shares of AON in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $300.98.

NYSE:AON opened at $263.99 on Friday. The firm’s fifty day moving average is $280.70 and its two-hundred day moving average is $290.73. The firm has a market cap of $56.07 billion, a price-to-earnings ratio of 41.90 and a beta of 0.94. Aon plc has a one year low of $223.19 and a one year high of $341.98. The company has a debt-to-equity ratio of 7.50, a quick ratio of 2.01 and a current ratio of 2.01.

AON (NYSE:AON – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The financial services provider reported $4.83 earnings per share for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.03). The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.72 billion. AON had a return on equity of 119.46% and a net margin of 11.06%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $4.28 EPS. As a group, equities research analysts predict that Aon plc will post 13.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Monday, May 2nd were given a $0.56 dividend. The ex-dividend date of this dividend was Friday, April 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from AON’s previous quarterly dividend of $0.51. AON’s dividend payout ratio is 35.56%.

AON Company Profile (Get Rating)

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captives management; and health solutions, such as health and benefits brokerages, and health care exchanges.

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