New York State Teachers Retirement System cut its holdings in Aon PLC (NYSE:AON) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 311,823 shares of the financial services provider’s stock after selling 752 shares during the quarter. New York State Teachers Retirement System’s holdings in AON were worth $53,228,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AON. Oregon Public Employees Retirement Fund boosted its stake in AON by 14,228.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,840,266 shares of the financial services provider’s stock valued at $26,000 after buying an additional 3,813,464 shares in the last quarter. Norges Bank acquired a new stake in shares of AON during the fourth quarter valued at about $176,885,000. BlackRock Inc. boosted its stake in shares of AON by 7.8% during the fourth quarter. BlackRock Inc. now owns 15,997,384 shares of the financial services provider’s stock valued at $2,325,380,000 after purchasing an additional 1,162,646 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of AON by 5.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,515,572 shares of the financial services provider’s stock valued at $3,272,864,000 after purchasing an additional 1,072,842 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of AON by 33.3% during the fourth quarter. Boston Partners now owns 3,634,161 shares of the financial services provider’s stock valued at $528,261,000 after purchasing an additional 907,862 shares in the last quarter. 84.63% of the stock is currently owned by institutional investors and hedge funds.
In other news, General Counsel Peter M. Lieb sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $178.39, for a total transaction of $927,628.00. Following the completion of the transaction, the general counsel now directly owns 16,446 shares in the company, valued at $2,933,801.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter M. Lieb sold 15,068 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $172.77, for a total value of $2,603,298.36. Following the transaction, the general counsel now owns 17,985 shares of the company’s stock, valued at $3,107,268.45. The disclosure for this sale can be found here. Insiders have sold 29,018 shares of company stock valued at $5,084,251 over the last 90 days. 0.92% of the stock is owned by corporate insiders.
Shares of AON stock opened at $181.70 on Friday. Aon PLC has a 12 month low of $134.82 and a 12 month high of $182.60. The stock has a market cap of $43.02 billion, a PE ratio of 22.27, a PEG ratio of 1.73 and a beta of 0.94. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.23.
AON (NYSE:AON) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $3.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $3.31. AON had a return on equity of 46.15% and a net margin of 11.08%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period last year, the company earned $2.97 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that Aon PLC will post 9.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from AON’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, April 30th. AON’s dividend payout ratio (DPR) is 21.57%.
A number of brokerages have recently commented on AON. Barclays lifted their price target on AON from $153.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, April 1st. Morgan Stanley lifted their price target on AON from $169.00 to $182.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wells Fargo & Co reissued a “hold” rating and set a $173.00 price target on shares of AON in a research note on Friday, April 26th. ValuEngine raised AON from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Finally, MKM Partners raised AON from a “neutral” rating to a “buy” rating and lifted their price target for the company from $155.00 to $200.00 in a research note on Monday, February 4th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $173.10.
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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