Employees Retirement System of Texas Sells 8,873 Shares of Aon plc $AON

Employees Retirement System of Texas reduced its stake in Aon plc (NYSE:AON) by 44.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,301 shares of the financial services provider’s stock after selling 8,873 shares during the quarter. Employees Retirement System of Texas’ holdings in AON were worth $3,988,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in AON by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Wealth Watch Advisors INC bought a new position in AON in the 3rd quarter worth $25,000. Eagle Bay Advisors LLC bought a new stake in AON during the fourth quarter valued at about $30,000. Strive Asset Management LLC bought a new stake in AON during the third quarter valued at about $35,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in AON during the third quarter valued at about $37,000. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AON. Keefe, Bruyette & Woods decreased their price target on AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Mizuho decreased their price target on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Citigroup raised their price target on AON from $412.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday. Barclays decreased their price target on AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Finally, Cantor Fitzgerald raised their price target on AON from $393.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.81.

AON Trading Down 0.2%

Shares of AON stock opened at $318.64 on Thursday. The firm has a market cap of $68.05 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.69 and a beta of 0.72. The business has a 50-day moving average price of $321.82 and a 200-day moving average price of $334.47. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. Aon plc has a twelve month low of $304.59 and a twelve month high of $381.00.

AON (NYSE:AON) last issued its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.67 earnings per share. Equities research analysts anticipate that Aon plc will post 19.07 EPS for the current fiscal year.

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. This is an increase from AON’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 1st. AON’s dividend payout ratio (DPR) is 16.36%.

About AON

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.