Russell Investments Group Ltd. trimmed its holdings in shares of Aon PLC (NYSE:AON) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,478 shares of the financial services provider’s stock after selling 9,795 shares during the period. Russell Investments Group Ltd.’s holdings in AON were worth $10,422,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in AON. Allianz Asset Management GmbH boosted its position in shares of AON by 20.8% in the 1st quarter. Allianz Asset Management GmbH now owns 70,870 shares of the financial services provider’s stock worth $9,945,000 after purchasing an additional 12,183 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of AON in the 2nd quarter worth approximately $2,806,000. Amalgamated Bank boosted its position in shares of AON by 4.9% in the 2nd quarter. Amalgamated Bank now owns 38,139 shares of the financial services provider’s stock worth $5,232,000 after purchasing an additional 1,768 shares in the last quarter. Townsend & Associates Inc bought a new stake in shares of AON in the 2nd quarter worth approximately $106,000. Finally, Chicago Capital LLC boosted its position in shares of AON by 269.2% in the 2nd quarter. Chicago Capital LLC now owns 9,600 shares of the financial services provider’s stock worth $1,317,000 after purchasing an additional 7,000 shares in the last quarter. 84.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Michael Neller sold 750 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $143.58, for a total value of $107,685.00. Following the completion of the transaction, the insider now directly owns 787 shares in the company, valued at approximately $112,997.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Caroline Grace sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $150.00, for a total transaction of $600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,750 shares of company stock valued at $1,967,685. 0.42% of the stock is owned by company insiders.
AON has been the topic of a number of analyst reports. Citigroup boosted their price target on AON from $167.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, October 12th. Credit Suisse Group set a $162.00 price target on AON and gave the stock a “hold” rating in a research report on Tuesday, October 30th. Wells Fargo & Co set a $143.00 price target on AON and gave the stock a “hold” rating in a research report on Friday, October 26th. Raymond James raised AON from an “underperform” rating to an “outperform” rating in a research report on Tuesday, September 25th. Finally, Sandler O’Neill raised AON from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. AON has a consensus rating of “Hold” and a consensus price target of $160.38.
Shares of NYSE AON opened at $163.06 on Friday. Aon PLC has a twelve month low of $130.87 and a twelve month high of $165.43. The company has a market capitalization of $39.33 billion, a P/E ratio of 25.01, a PEG ratio of 1.70 and a beta of 0.85. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.31.
AON (NYSE:AON) last announced its quarterly earnings data on Friday, October 26th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. AON had a net margin of 7.06% and a return on equity of 43.96%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Aon PLC will post 8.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $1.60 dividend on an annualized basis and a yield of 0.98%. AON’s payout ratio is currently 24.54%.
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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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