Aon PLC (AON) Shares Sold by Royal London Asset Management Ltd.
Royal London Asset Management Ltd. reduced its holdings in Aon PLC (NYSE:AON) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,664 shares of the financial services provider’s stock after selling 8,905 shares during the quarter. Royal London Asset Management Ltd.’s holdings in AON were worth $14,865,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in AON. Pinebridge Investments L.P. bought a new position in shares of AON during the 2nd quarter valued at about $132,000. Synovus Financial Corp grew its position in AON by 110.4% during the 3rd quarter. Synovus Financial Corp now owns 852 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 447 shares during the last quarter. Shine Investment Advisory Services Inc. grew its position in AON by 1,468.2% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,035 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 969 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in AON during the 3rd quarter worth approximately $163,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its position in AON by 50.0% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,200 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 84.42% of the company’s stock.
In other AON news, CEO Caroline Grace sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $155.00, for a total value of $620,000.00. Following the completion of the sale, the chief executive officer now owns 45,796 shares in the company, valued at approximately $7,098,380. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 12,000 shares of company stock valued at $1,860,000. Company insiders own 0.42% of the company’s stock.
AON (NYSE:AON) last released its quarterly earnings data on Friday, October 26th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.09. AON had a return on equity of 43.96% and a net margin of 7.06%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the business posted $1.29 EPS. The business’s revenue was up .4% on a year-over-year basis. As a group, research analysts expect that Aon PLC will post 8.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, October 31st. AON’s dividend payout ratio (DPR) is currently 24.54%.
Several research firms recently issued reports on AON. Keefe, Bruyette & Woods restated a “buy” rating and set a $164.00 price target on shares of AON in a research report on Sunday, July 29th. Raymond James upgraded AON from an “underperform” rating to an “outperform” rating in a research report on Tuesday, September 25th. Credit Suisse Group set a $158.00 price target on AON and gave the stock a “hold” rating in a research report on Tuesday, October 9th. Wells Fargo & Co raised their price target on AON from $143.00 to $150.00 and gave the stock a “market perform” rating in a research report on Monday, October 29th. Finally, Sandler O’Neill upgraded AON from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. AON presently has a consensus rating of “Hold” and a consensus price target of $160.38.
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AON Company Profile
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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