Gabelli Funds LLC Sells 4,050 Shares of Aon plc $AON

Gabelli Funds LLC lowered its holdings in shares of Aon plc (NYSE:AON) by 38.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,560 shares of the financial services provider’s stock after selling 4,050 shares during the period. Gabelli Funds LLC’s holdings in AON were worth $2,315,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. North Dakota State Investment Board bought a new stake in AON in the 4th quarter worth $2,539,000. iA Global Asset Management Inc. bought a new stake in AON in the 4th quarter worth $759,000. May Hill Capital LLC bought a new stake in AON in the 4th quarter worth $202,000. Beese Fulmer Investment Management Inc. grew its holdings in AON by 5.6% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 29,544 shares of the financial services provider’s stock worth $10,425,000 after acquiring an additional 1,567 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in AON by 4.8% in the 4th quarter. DNB Asset Management AS now owns 41,361 shares of the financial services provider’s stock worth $14,595,000 after acquiring an additional 1,878 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

AON Stock Up 0.2%

Shares of AON stock opened at $324.73 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $69.36 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00. The company has a 50-day simple moving average of $321.84 and a two-hundred day simple moving average of $334.94.

AON (NYSE:AON) last issued its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the previous year, the company earned $5.67 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Aon plc will post 19.07 EPS for the current fiscal year.

AON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.75. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. AON’s dividend payout ratio is presently 16.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AON. Mizuho cut their price target on shares of AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. UBS Group reaffirmed a “neutral” rating and set a $385.00 target price on shares of AON in a research note on Monday, February 2nd. Cantor Fitzgerald lifted their target price on shares of AON from $393.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Morgan Stanley cut their target price on shares of AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Barclays cut their target price on shares of AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, AON presently has a consensus rating of “Moderate Buy” and an average target price of $396.00.

AON 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.