Aon plc $AON Stock Holdings Cut by Abacus Planning Group Inc.

Abacus Planning Group Inc. cut its position in shares of Aon plc (NYSE:AON) by 12.2% during the 2nd quarter, Holdings Channel reports. The firm owned 904 shares of the financial services provider’s stock after selling 126 shares during the period. Abacus Planning Group Inc.’s holdings in AON were worth $323,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in AON by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider’s stock valued at $7,893,382,000 after acquiring an additional 258,699 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider’s stock valued at $1,210,864,000 after purchasing an additional 469,238 shares during the last quarter. Polen Capital Management LLC boosted its holdings in AON by 318.1% during the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock worth $1,200,350,000 after buying an additional 2,288,397 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AON by 2.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider’s stock worth $954,053,000 after buying an additional 61,350 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of AON by 6.1% in the first quarter. Northern Trust Corp now owns 2,290,619 shares of the financial services provider’s stock valued at $914,163,000 after buying an additional 131,676 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Stock Performance

Shares of AON opened at $364.06 on Friday. The company has a market capitalization of $78.50 billion, a PE ratio of 30.49, a PEG ratio of 2.14 and a beta of 0.89. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The company’s 50 day moving average price is $363.77 and its 200 day moving average price is $364.00. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97.

AON (NYSE:AON) last issued its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts expect that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.745 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. AON’s dividend payout ratio (DPR) is 24.96%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AON shares. Morgan Stanley raised AON from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $385.00 to $430.00 in a research note on Thursday, September 11th. Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and lifted their price target for the stock from $400.00 to $426.00 in a research note on Wednesday, July 30th. Citigroup initiated coverage on shares of AON in a research note on Wednesday, August 13th. They set a “neutral” rating and a $402.00 price objective for the company. TD Cowen dropped their target price on shares of AON from $427.00 to $419.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of AON in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $415.06.

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.