Hsbc Holdings PLC cut its stake in Aon PLC (NYSE:AON) by 43.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,099 shares of the financial services provider’s stock after selling 26,048 shares during the period. Hsbc Holdings PLC’s holdings in AON were worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in AON. Synovus Financial Corp grew its position in shares of AON by 110.4% during the 3rd quarter. Synovus Financial Corp now owns 852 shares of the financial services provider’s stock worth $132,000 after buying an additional 447 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of AON during the 2nd quarter worth approximately $132,000. TRUE Private Wealth Advisors acquired a new stake in shares of AON during the 3rd quarter worth approximately $163,000. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in shares of AON by 50.0% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,200 shares of the financial services provider’s stock worth $165,000 after buying an additional 400 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of AON during the 2nd quarter worth approximately $176,000. 85.01% of the stock is owned by institutional investors.
Several brokerages have recently commented on AON. Wells Fargo & Co lifted their price target on shares of AON from $165.00 to $150.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 13th. Morgan Stanley lifted their price target on shares of AON from $152.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 14th. Raymond James upgraded shares of AON from an “underperform” rating to an “outperform” rating in a research report on Tuesday, September 25th. Barclays lifted their price target on shares of AON from $138.00 to $153.00 and gave the stock an “equal weight” rating in a research report on Monday, November 12th. Finally, Sandler O’Neill upgraded shares of AON from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. AON currently has a consensus rating of “Hold” and a consensus target price of $160.38.
Shares of NYSE:AON opened at $158.73 on Friday. Aon PLC has a one year low of $130.87 and a one year high of $166.55. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.31. The company has a market cap of $38.67 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86.
AON (NYSE:AON) last issued its quarterly earnings data on Friday, October 26th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.09. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.39 billion. AON had a net margin of 7.06% and a return on equity of 43.96%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. As a group, equities research analysts forecast 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, October 31st. AON’s dividend payout ratio is currently 24.54%.
In related news, CEO Caroline Grace sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $160.00, for a total transaction of $640,000.00. Following the completion of the transaction, the chief executive officer now owns 41,796 shares in the company, valued at $6,687,360. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.
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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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