WCM Investment Management LLC Cuts Stock Position in Aon plc $AON

WCM Investment Management LLC cut its holdings in shares of Aon plc (NYSE:AON) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,037,843 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. AON makes up about 1.5% of WCM Investment Management LLC’s investment portfolio, making the stock its 25th biggest position. WCM Investment Management LLC’s holdings in AON were worth $722,660,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in AON by 2.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,478 shares of the financial services provider’s stock valued at $4,095,000 after purchasing an additional 248 shares during the period. J. Safra Sarasin Holding AG purchased a new stake in AON during the 2nd quarter valued at approximately $292,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AON by 9.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,943 shares of the financial services provider’s stock worth $9,969,000 after buying an additional 2,489 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of AON during the second quarter worth $98,000. Finally, OLD National Bancorp IN grew its stake in AON by 119.3% during the second quarter. OLD National Bancorp IN now owns 4,693 shares of the financial services provider’s stock valued at $1,674,000 after acquiring an additional 2,553 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

AON Trading Up 0.1%

Shares of AON stock opened at $349.90 on Tuesday. The company has a market cap of $75.20 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $347.99 and its two-hundred day simple moving average is $353.68. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97.

AON (NYSE:AON) last released its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.75 by $0.10. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion. AON had a return on equity of 45.23% and a net margin of 21.51%.The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.42 EPS. Research analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a $0.745 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio is currently 17.51%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of AON from $448.00 to $443.00 and set an “overweight” rating on the stock in a research note on Sunday. JPMorgan Chase & Co. reduced their target price on AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Cantor Fitzgerald increased their price target on AON from $393.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup raised AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective on the stock in a research note on Monday, November 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $408.00 target price on shares of AON in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.44.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.