Harris Associates L P Reduces Position in Aon PLC (AON)

Harris Associates L P lessened its position in shares of Aon PLC (NYSE:AON) by 50.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,149,105 shares of the financial services provider’s stock after selling 1,153,806 shares during the quarter. Harris Associates L P’s holdings in AON were worth $167,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AON. Oregon Public Employees Retirement Fund grew its stake in AON by 14,228.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,840,266 shares of the financial services provider’s stock worth $26,000 after buying an additional 3,813,464 shares during the last quarter. Capital World Investors purchased a new position in AON during the 3rd quarter worth approximately $312,712,000. Capital International Investors grew its stake in AON by 43.9% during the 3rd quarter. Capital International Investors now owns 4,618,244 shares of the financial services provider’s stock worth $710,194,000 after buying an additional 1,407,855 shares during the last quarter. BlackRock Inc. grew its stake in AON by 7.8% during the 4th quarter. BlackRock Inc. now owns 15,997,384 shares of the financial services provider’s stock worth $2,325,380,000 after buying an additional 1,162,646 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in AON by 5.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 22,515,572 shares of the financial services provider’s stock worth $3,272,864,000 after buying an additional 1,072,842 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

A number of research analysts recently issued reports on the company. ValuEngine upgraded AON from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. William Blair restated a “market perform” rating on shares of AON in a research note on Friday, February 1st. MKM Partners upgraded AON from a “neutral” rating to a “buy” rating and raised their price target for the stock from $155.00 to $200.00 in a research note on Monday, February 4th. Compass Point assumed coverage on AON in a research note on Tuesday, January 15th. They set a “buy” rating and a $195.00 price target on the stock. Finally, Wells Fargo & Co restated a “hold” rating on shares of AON in a research note on Tuesday, January 8th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. AON currently has a consensus rating of “Hold” and an average target price of $169.10.

Shares of AON stock opened at $167.88 on Wednesday. The firm has a market cap of $40.61 billion, a P/E ratio of 20.50, a PEG ratio of 1.56 and a beta of 0.94. Aon PLC has a 1 year low of $134.82 and a 1 year high of $173.53. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.42.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, February 1st. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.03. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.82 billion. AON had a return on equity of 43.49% and a net margin of 10.53%. During the same period in the previous year, the firm posted $2.35 earnings per share. AON’s revenue was down 4.8% on a year-over-year basis. As a group, research analysts predict that Aon PLC will post 9.2 earnings per share for the current year.

In other news, CFO Christa Davies sold 58,152 shares of AON stock in a transaction on Friday, February 15th. The stock was sold at an average price of $170.90, for a total value of $9,938,176.80. Following the completion of the sale, the chief financial officer now owns 288,016 shares of the company’s stock, valued at $49,221,934.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Andersen sold 5,000 shares of AON stock in a transaction on Friday, May 24th. The shares were sold at an average price of $142.39, for a total value of $711,950.00. Following the completion of the sale, the insider now directly owns 67,320 shares of the company’s stock, valued at approximately $9,585,694.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,470 shares of company stock valued at $13,468,000. Insiders own 0.42% of the company’s stock.

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AON Company Profile

Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.

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Institutional Ownership by Quarter for AON (NYSE:AON)

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