Envestnet Portfolio Solutions Inc. Trims Stock Position in Aon plc (NYSE:AON)

Envestnet Portfolio Solutions Inc. reduced its stake in Aon plc (NYSE:AON) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,664 shares of the financial services provider’s stock after selling 1,159 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AON were worth $3,112,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in AON by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,237,784 shares of the financial services provider’s stock valued at $444,563,000 after buying an additional 31,021 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AON by 27.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,548 shares of the financial services provider’s stock valued at $34,676,000 after acquiring an additional 20,942 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of AON by 5.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,533 shares of the financial services provider’s stock worth $9,530,000 after acquiring an additional 1,451 shares during the period. Proficio Capital Partners LLC increased its position in AON by 43,000.8% during the 4th quarter. Proficio Capital Partners LLC now owns 390,924 shares of the financial services provider’s stock worth $140,404,000 after purchasing an additional 390,017 shares during the period. Finally, State Street Corp raised its stake in shares of AON by 0.4% during the 3rd quarter. State Street Corp now owns 8,844,121 shares of the financial services provider’s stock worth $3,059,977,000 after buying an additional 32,417 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Stock Up 0.2 %

Shares of NYSE:AON opened at $390.70 on Thursday. The company has a market capitalization of $84.39 billion, a P/E ratio of 30.86, a P/E/G ratio of 2.12 and a beta of 0.92. The stock’s fifty day simple moving average is $383.79 and its 200-day simple moving average is $369.93. Aon plc has a 52-week low of $268.06 and a 52-week high of $412.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.58.

AON (NYSE:AON) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.25 by $0.17. AON had a net margin of 16.91% and a return on equity of 70.84%. During the same quarter in the previous year, the company posted $3.89 EPS. As a group, equities research analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.675 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.70 annualized dividend and a yield of 0.69%. AON’s dividend payout ratio (DPR) is presently 21.33%.

Wall Street Analysts Forecast Growth

AON has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on AON from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Royal Bank of Canada upped their price target on shares of AON from $390.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. Evercore ISI raised shares of AON from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $407.00 to $420.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on shares of AON from $379.00 to $394.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Piper Sandler boosted their price target on AON from $372.00 to $384.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, AON has a consensus rating of “Hold” and an average price target of $386.21.

AON Profile

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.