Capital Group Private Client Services Inc. Sells 2,216 Shares of Aon plc $AON

Capital Group Private Client Services Inc. reduced its position in shares of Aon plc (NYSE:AON) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 42,571 shares of the financial services provider’s stock after selling 2,216 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in AON were worth $15,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Sound View Wealth Advisors Group LLC grew its stake in shares of AON by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock valued at $683,000 after acquiring an additional 29 shares during the period. Kathmere Capital Management LLC grew its stake in shares of AON by 2.1% during the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock valued at $558,000 after acquiring an additional 32 shares during the period. Westpac Banking Corp grew its stake in shares of AON by 5.6% during the 3rd quarter. Westpac Banking Corp now owns 620 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 33 shares during the period. Capital Investment Advisors LLC grew its stake in shares of AON by 1.8% during the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 33 shares during the period. Finally, Salomon & Ludwin LLC grew its stake in shares of AON by 39.3% during the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 33 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AON has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Barclays lowered 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. TD Cowen reissued a “buy” rating on shares of AON in a report on Monday, March 16th. Keefe, Bruyette & Woods lowered 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $396.81.

AON Stock Up 2.1%

Shares of AON opened at $328.85 on Friday. The stock has a market capitalization of $70.24 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00. The business’s 50 day simple moving average is $321.49 and its 200-day simple moving average is $333.17. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON) last issued its quarterly earnings data 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. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.67 EPS. As a group, equities analysts expect that Aon plc will post 19.1 earnings per share for the current fiscal year.

AON Increases Dividend

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