PNC Financial Services Group Inc. Sells 3,040 Shares of Aon plc $AON

PNC Financial Services Group Inc. reduced its position in Aon plc (NYSE:AON) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,797 shares of the financial services provider’s stock after selling 3,040 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.05% of AON worth $40,510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of AON in the 4th quarter valued at $4,305,000. Callan Family Office LLC boosted its stake in shares of AON by 220.7% in the 3rd quarter. Callan Family Office LLC now owns 11,675 shares of the financial services provider’s stock valued at $4,163,000 after purchasing an additional 8,034 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of AON in the 3rd quarter valued at $1,752,000. Veritas Asset Management LLP boosted its stake in shares of AON by 19.3% in the 3rd quarter. Veritas Asset Management LLP now owns 2,053,673 shares of the financial services provider’s stock valued at $732,299,000 after purchasing an additional 332,685 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in shares of AON by 64.9% in the 3rd quarter. Savant Capital LLC now owns 19,092 shares of the financial services provider’s stock valued at $6,808,000 after purchasing an additional 7,512 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

AON stock opened at $324.26 on Friday. The stock has a 50-day simple moving average of $321.68 and a 200 day simple moving average of $335.02. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The stock has a market capitalization of $69.26 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.70 and a beta of 0.72.

AON (NYSE:AON) last released its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.67 earnings per share. On average, research analysts anticipate that Aon plc will post 19.07 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.82 dividend. The ex-dividend date was Friday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. AON’s dividend payout ratio is 16.36%.

Analysts Set New Price Targets

Several brokerages have recently commented on AON. Weiss Ratings restated a “hold (c)” rating on shares of AON in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods reduced their target price on shares of AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company cut their price target on AON from $443.00 to $402.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Barclays cut their price target on AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Finally, Cantor Fitzgerald lifted their price target on AON from $393.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $396.00.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.