California Public Employees Retirement System Sells 132,271 Shares of Aon plc $AON

California Public Employees Retirement System trimmed its position in Aon plc (NYSE:AON) by 21.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,942 shares of the financial services provider’s stock after selling 132,271 shares during the quarter. California Public Employees Retirement System owned about 0.22% of AON worth $153,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new stake in AON in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of AON in the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new stake in AON in the fourth quarter worth $29,000. Eagle Bay Advisors LLC purchased a new stake in AON during the fourth quarter valued at $30,000. Finally, Strive Asset Management LLC bought a new position in AON during the third quarter valued at $35,000. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AON. Barclays boosted their target price on shares of AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Wells Fargo & Company reduced their price objective on AON from $409.00 to $406.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Piper Sandler downgraded AON from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $377.00 in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. boosted their target price on AON from $396.00 to $412.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, AON presently has an average rating of “Moderate Buy” and a consensus price target of $404.56.

AON Stock Performance

AON stock opened at $366.69 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $78.32 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.92 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 company’s 50-day moving average is $332.19 and its 200 day moving average is $331.19.

AON (NYSE:AON) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the prior year, the firm posted $5.67 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Research analysts forecast that Aon plc will post 19.09 EPS for the current year.

AON Dividend Announcement

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

Insiders Place Their Bets

In other AON news, General Counsel Darren Zeidel sold 600 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total value of $216,000.00. Following the sale, the general counsel owned 15,354 shares in the company, valued at $5,527,440. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

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.