Citizens Financial Group Inc. RI Cuts Stock Position in Aon plc $AON

Citizens Financial Group Inc. RI decreased its position in shares of Aon plc (NYSE:AON) by 62.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,262 shares of the financial services provider’s stock after selling 15,371 shares during the period. Citizens Financial Group Inc. RI’s holdings in AON were worth $2,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Dodge & Cox boosted its position in shares of AON by 126.6% in the 4th quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock worth $2,770,975,000 after purchasing an additional 4,387,773 shares in the last quarter. Norges Bank purchased a new stake in shares of AON during the fourth quarter worth about $1,155,981,000. Viking Global Investors LP acquired a new position in shares of AON during the third quarter valued at about $504,424,000. Balyasny Asset Management L.P. raised its position in shares of AON by 40,219.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock valued at $301,922,000 after purchasing an additional 844,615 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in AON in the 4th quarter worth approximately $229,372,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Darren Zeidel sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the sale, the general counsel directly owned 15,354 shares in the company, valued at approximately $5,527,440. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

AON Stock Up 2.9%

AON stock opened at $367.27 on Tuesday. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm has a 50-day simple moving average of $328.19 and a 200-day simple moving average of $330.86. The stock has a market capitalization of $78.44 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.88 and a beta of 0.71.

AON (NYSE:AON) last issued its quarterly earnings results 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. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period last year, the company posted $5.67 EPS. AON’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts forecast that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s dividend payout ratio (DPR) is 18.00%.

Analyst Ratings Changes

AON has been the topic of a number of recent analyst reports. TD Cowen restated a “buy” rating on shares of AON in a research note on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Wells Fargo & Company cut their target price on AON from $409.00 to $406.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. UBS Group lifted their price target on AON from $360.00 to $383.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Piper Sandler dropped their price target on AON from $360.00 to $355.00 and set an “overweight” rating on the stock in a research note on Monday, June 15th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $403.19.

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.