State Board of Administration of Florida Retirement System reduced its stake in Aon PLC (NYSE:AON) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 361,370 shares of the financial services provider’s stock after selling 10,931 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in AON were worth $55,571,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in AON. Massachusetts Financial Services Co. MA increased its holdings in shares of AON by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,442,730 shares of the financial services provider’s stock worth $3,297,462,000 after purchasing an additional 191,770 shares during the period. Principal Financial Group Inc. increased its holdings in shares of AON by 0.4% during the first quarter. Principal Financial Group Inc. now owns 6,079,415 shares of the financial services provider’s stock worth $853,124,000 after purchasing an additional 23,060 shares during the period. Mawer Investment Management Ltd. increased its holdings in shares of AON by 2.9% during the second quarter. Mawer Investment Management Ltd. now owns 5,522,249 shares of the financial services provider’s stock worth $757,487,000 after purchasing an additional 154,272 shares during the period. Boston Partners increased its holdings in shares of AON by 1.8% during the second quarter. Boston Partners now owns 2,598,538 shares of the financial services provider’s stock worth $356,441,000 after purchasing an additional 45,026 shares during the period. Finally, Cantillon Capital Management LLC increased its holdings in shares of AON by 53.2% during the second quarter. Cantillon Capital Management LLC now owns 1,397,690 shares of the financial services provider’s stock worth $191,721,000 after purchasing an additional 485,561 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.
NYSE AON opened at $156.18 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.63 and a debt-to-equity ratio of 1.31. The company has a market cap of $37.62 billion, a P/E ratio of 18.73, a PEG ratio of 1.63 and a beta of 0.85. Aon PLC has a 1 year low of $130.87 and a 1 year high of $159.72.
AON (NYSE:AON) last posted its quarterly earnings results on Friday, October 26th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.09. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.39 billion. AON had a net margin of 7.06% and a return on equity of 43.96%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. Equities analysts expect that Aon PLC will post 8.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $1.60 annualized dividend and a dividend yield of 1.02%. AON’s dividend payout ratio is 24.54%.
Several brokerages have recently commented on AON. Sandler O’Neill raised shares of AON from a “hold” rating to a “buy” rating in a report on Monday, October 29th. Wells Fargo & Co set a $143.00 target price on shares of AON and gave the stock a “hold” rating in a report on Friday, October 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $164.00 target price on shares of AON in a report on Sunday, July 29th. Credit Suisse Group began coverage on shares of AON in a report on Tuesday, August 7th. They set a “neutral” rating and a $154.00 target price on the stock. Finally, Raymond James raised shares of AON from an “underperform” rating to an “outperform” rating in a report on Tuesday, September 25th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. AON currently has an average rating of “Hold” and an average target price of $157.29.
In related news, CEO Caroline Grace sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $150.00, for a total transaction of $600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Neller sold 750 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $143.58, for a total transaction of $107,685.00. Following the sale, the insider now owns 787 shares in the company, valued at approximately $112,997.46. The disclosure for this sale can be found here. Insiders have sold a total of 8,750 shares of company stock worth $1,327,685 in the last quarter. 0.42% of the stock is currently owned by company insiders.
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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