First Republic Investment Management Inc. cut its holdings in Aon PLC (NYSE:AON) by 29.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,751 shares of the financial services provider’s stock after selling 7,140 shares during the period. First Republic Investment Management Inc.’s holdings in AON were worth $2,447,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in AON by 16.7% in the second quarter. Parallel Advisors LLC now owns 740 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 106 shares during the period. Fiduciary Trust Co. purchased a new stake in AON in the second quarter valued at approximately $108,000. Pathstone Family Office LLC raised its position in AON by 6,775.0% in the second quarter. Pathstone Family Office LLC now owns 825 shares of the financial services provider’s stock valued at $1,703,000 after purchasing an additional 813 shares during the period. Magellan Asset Management Ltd raised its position in AON by 110.2% in the second quarter. Magellan Asset Management Ltd now owns 847 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 444 shares during the period. Finally, Pinnacle Financial Partners Inc. purchased a new stake in AON in the second quarter valued at approximately $126,000. Hedge funds and other institutional investors own 87.66% of the company’s stock.
Aon PLC (NYSE:AON) opened at $138.30 on Tuesday. The company has a market capitalization of $34,608.33, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.80 and a beta of 1.04. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.08. Aon PLC has a twelve month low of $109.82 and a twelve month high of $152.78.
AON (NYSE:AON) last posted its earnings results on Friday, October 27th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.29 billion. AON had a return on equity of 32.71% and a net margin of 16.78%. AON’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. equities analysts expect that Aon PLC will post 6.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.04%. The ex-dividend date was Tuesday, October 31st. AON’s dividend payout ratio (DPR) is presently 21.79%.
In other AON news, CEO Michael J. O’connor sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $145.00, for a total value of $1,450,000.00. Following the completion of the transaction, the chief executive officer now owns 123,805 shares in the company, valued at $17,951,725. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Zern sold 17,680 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $139.79, for a total transaction of $2,471,487.20. Following the completion of the transaction, the chief executive officer now owns 27,695 shares of the company’s stock, valued at approximately $3,871,484.05. The disclosure for this sale can be found here. Insiders sold 51,680 shares of company stock worth $7,353,887 in the last three months. 0.90% of the stock is currently owned by corporate insiders.
A number of brokerages have issued reports on AON. ValuEngine lowered AON from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub lowered AON from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Barclays upped their price objective on AON from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 16th. Sandler O’Neill reaffirmed a “hold” rating on shares of AON in a research report on Monday, October 30th. Finally, Zacks Investment Research lowered AON from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. AON presently has a consensus rating of “Hold” and an average price target of $145.08.
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Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.
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