Capital Group Investment Management PTE. LTD. Sells 2,246 Shares of Aon plc $AON

Capital Group Investment Management PTE. LTD. cut its holdings in Aon plc (NYSE:AON) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,439 shares of the financial services provider’s stock after selling 2,246 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in AON were worth $2,272,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of AON by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider’s stock worth $7,117,960,000 after buying an additional 191,658 shares during the last quarter. State Street Corp grew its holdings in AON by 1.2% during the 3rd quarter. State Street Corp now owns 9,229,464 shares of the financial services provider’s stock valued at $3,291,048,000 after purchasing an additional 105,154 shares during the last quarter. Geode Capital Management LLC grew its holdings in AON by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 5,141,363 shares of the financial services provider’s stock valued at $1,810,726,000 after purchasing an additional 28,066 shares during the last quarter. Dodge & Cox bought a new position in AON during the 3rd quarter valued at about $1,235,437,000. Finally, Norges Bank bought a new position in AON during the 4th quarter valued at about $1,155,981,000. 86.14% of the stock is currently owned by institutional investors.

AON Price Performance

Shares of AON opened at $328.85 on Friday. The company has a 50 day moving average price of $321.49 and a 200-day moving average price of $333.17. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The stock has a market capitalization of $70.24 billion, a PE ratio of 18.05, a PEG ratio of 1.73 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95.

AON (NYSE:AON) last announced its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the prior year, the company earned $5.67 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. Equities analysts predict that Aon plc will post 19.1 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from AON’s previous quarterly dividend of $0.75. AON’s dividend payout ratio is currently 16.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AON shares. Wells Fargo & Company cut their price target on shares of AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Bank of America raised shares of AON from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $398.00 to $397.00 in a research report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a research report on Tuesday, April 21st. Piper Sandler boosted their price objective on shares of AON from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, Barclays lowered 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 report on Wednesday, April 8th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, AON has an average 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.