Oppenheimer Asset Management Inc. Sells 6,626 Shares of Aon plc $AON

Oppenheimer Asset Management Inc. decreased its holdings in shares of Aon plc (NYSE:AON) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,025 shares of the financial services provider’s stock after selling 6,626 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AON were worth $15,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Westside Investment Management Inc. increased its position in AON by 100.0% in the third quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new position in shares of AON during the 3rd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp purchased a new stake in AON in the 2nd quarter worth approximately $31,000. Salomon & Ludwin LLC purchased a new position in AON during the third quarter valued at approximately $31,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of AON in the second quarter worth approximately $32,000. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AON shares. The Goldman Sachs Group set a $395.00 price objective on shares of AON in a research report on Wednesday, January 7th. TD Cowen dropped their price objective on AON from $419.00 to $416.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Cantor Fitzgerald increased their target price on AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Morgan Stanley set a $400.00 price target on AON in a report on Tuesday, December 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $408.00 price objective on shares of AON in a report on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AON has an average rating of “Moderate Buy” and a consensus target price of $409.75.

AON Stock Down 9.5%

NYSE AON opened at $309.67 on Tuesday. The stock has a 50 day moving average price of $346.58 and a 200-day moving average price of $353.09. Aon plc has a one year low of $309.13 and a one year high of $412.97. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.35 and a current ratio of 2.03. The company has a market capitalization of $66.56 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.75 and a beta of 0.83.

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

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, February 2nd. AON’s payout ratio is presently 17.51%.

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.