Bank of New York Mellon Corp Has $1.23 Billion Holdings in Aon plc $AON

Bank of New York Mellon Corp lowered its holdings in Aon plc (NYSE:AON) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,479,061 shares of the financial services provider’s stock after selling 236,285 shares during the period. Bank of New York Mellon Corp owned approximately 1.62% of AON worth $1,227,691,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Westside Investment Management Inc. grew its stake in AON by 100.0% during 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. Wealth Watch Advisors INC bought a new stake in shares of AON during the 3rd quarter worth approximately $25,000. Eagle Bay Advisors LLC acquired a new stake in shares of AON during the 4th quarter worth approximately $30,000. Strive Asset Management LLC acquired a new position in AON during the third quarter valued at approximately $35,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in AON during the third quarter worth $37,000. 86.14% of the stock is currently owned by institutional investors.

AON Trading Down 0.7%

Shares of AON stock opened at $318.11 on Wednesday. Aon plc has a 1-year low of $304.59 and a 1-year high of $381.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The stock has a market cap of $67.94 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.68 and a beta of 0.71. The stock has a 50-day moving average of $321.79 and a 200-day moving average of $333.87.

AON (NYSE:AON) last posted its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion for 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 firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.67 earnings per share. On average, equities research analysts forecast that Aon plc will post 19.1 earnings per share for the current year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.82 dividend. The ex-dividend date 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 yield of 1.0%. AON’s dividend payout ratio (DPR) is presently 16.36%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AON shares. Mizuho reduced their price objective on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Morgan Stanley reduced their price target on shares of AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. JPMorgan Chase & Co. decreased their price target on shares of AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Barclays dropped their price objective on shares of AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Finally, Citigroup boosted their target price on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $396.81.

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.