Envestnet Portfolio Solutions Inc. Sells 712 Shares of Aon plc $AON

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Aon plc (NYSE:AON) by 28.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,818 shares of the financial services provider’s stock after selling 712 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AON were worth $649,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AON. U.S. Capital Wealth Advisors LLC lifted its stake in shares of AON by 0.9% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 3,105 shares of the financial services provider’s stock valued at $1,108,000 after buying an additional 28 shares during the period. HHM Wealth Advisors LLC lifted its position in shares of AON by 54.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 29 shares during the period. Catalyst Financial Partners LLC lifted its position in shares of AON by 2.6% in the 1st quarter. Catalyst Financial Partners LLC now owns 1,200 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 30 shares during the period. Sunflower Bank N.A. increased its position in shares of AON by 1.8% during the second quarter. Sunflower Bank N.A. now owns 1,675 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 30 shares during the period. Finally, MBL Wealth LLC raised its stake in shares of AON by 2.1% in the first quarter. MBL Wealth LLC now owns 1,503 shares of the financial services provider’s stock valued at $600,000 after purchasing an additional 31 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

NYSE:AON opened at $344.30 on Tuesday. The stock has a market capitalization of $74.24 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97. The firm has a 50 day moving average of $362.79 and a 200-day moving average of $360.75.

AON (NYSE:AON) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping 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 business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the company earned $2.93 EPS. AON’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 3rd. AON’s payout ratio is currently 24.96%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AON. TD Cowen decreased their price target on shares of AON from $427.00 to $419.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Piper Sandler lifted their target price on shares of AON from $393.00 to $413.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Morgan Stanley raised shares of AON from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $385.00 to $430.00 in a research report on Thursday, September 11th. JPMorgan Chase & Co. decreased their price objective on AON from $436.00 to $433.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of AON in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $420.00.

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.