Aon PLC (AON) Position Decreased by Sound Shore Management Inc. CT
Sound Shore Management Inc. CT cut its stake in shares of Aon PLC (NYSE:AON) by 16.6% during the second quarter, Holdings Channel reports. The fund owned 1,126,454 shares of the financial services provider’s stock after selling 224,660 shares during the period. Aon PLC makes up 2.5% of Sound Shore Management Inc. CT’s portfolio, making the stock its 28th largest position. Sound Shore Management Inc. CT’s holdings in Aon PLC were worth $149,762,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. FNY Partners Fund LP acquired a new position in shares of Aon PLC during the first quarter valued at about $106,000. Mitchell Capital Management Co. acquired a new position in shares of Aon PLC during the second quarter valued at about $202,000. Foster & Motley Inc. acquired a new position in shares of Aon PLC during the second quarter valued at about $202,000. Joel Isaacson & Co. LLC acquired a new position in shares of Aon PLC during the second quarter valued at about $202,000. Finally, Capital Investment Advisors LLC acquired a new position in shares of Aon PLC during the second quarter valued at about $220,000. Institutional investors own 86.41% of the company’s stock.
Shares of Aon PLC (NYSE AON) opened at 138.85 on Friday. The company’s 50-day moving average price is $136.49 and its 200-day moving average price is $124.96. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 20.28 and a beta of 1.03. Aon PLC has a 12 month low of $107.19 and a 12 month high of $141.45.
Aon PLC (NYSE:AON) last posted its earnings results on Friday, August 4th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.45. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Aon PLC had a return on equity of 32.62% and a net margin of 17.28%. Aon PLC’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. Analysts anticipate that Aon PLC will post $6.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. Aon PLC’s payout ratio is presently 20.48%.
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Several brokerages have recently issued reports on AON. Morgan Stanley reiterated an “equal weight” rating and issued a $138.00 price target (up previously from $130.00) on shares of Aon PLC in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $146.00 price target (up previously from $137.00) on shares of Aon PLC in a research note on Tuesday, May 9th. BidaskClub upgraded Aon PLC from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Aon PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, Citigroup Inc. lifted their price target on Aon PLC from $155.00 to $159.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $139.00.
In other Aon PLC news, EVP Peter M. Lieb sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $130.40, for a total value of $260,800.00. Following the completion of the sale, the executive vice president now directly owns 20,216 shares in the company, valued at $2,636,166.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laurel G. Meissner sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $126.19, for a total transaction of $504,760.00. Following the completion of the sale, the senior vice president now owns 16,314 shares of the company’s stock, valued at $2,058,663.66. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
About Aon PLC
Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.
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