Gabelli Funds LLC Sells 4,050 Shares of Aon plc $AON

Gabelli Funds LLC trimmed its holdings in shares of Aon plc (NYSE:AON) by 38.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,560 shares of the financial services provider’s stock after selling 4,050 shares during the quarter. Gabelli Funds LLC’s holdings in AON were worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Westside Investment Management Inc. boosted its position in shares of AON by 100.0% in the third quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Wealth Watch Advisors INC bought a new position in shares of AON in the third quarter worth approximately $25,000. Eagle Bay Advisors LLC bought a new position in shares of AON during the fourth quarter worth $30,000. Strive Asset Management LLC bought a new position in shares of AON during the third quarter worth $35,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of AON during the third quarter worth $37,000. 86.14% of the stock is currently owned by institutional investors.

AON Trading Up 0.2%

AON stock opened at $324.73 on Friday. The company has a market capitalization of $69.36 billion, a PE ratio of 17.82, a P/E/G ratio of 1.72 and a beta of 0.72. Aon plc has a 12 month low of $304.59 and a 12 month high of $381.00. The firm’s 50-day moving average is $321.84 and its 200 day moving average is $334.94. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON) last posted its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, topping the consensus estimate of $6.37 by $0.11. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.67 EPS. On average, research analysts anticipate that Aon plc will post 19.07 EPS for the current year.

AON Increases Dividend

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

Analyst Upgrades and Downgrades

AON has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of AON from $388.00 to $355.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Bank of America upgraded shares of AON from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $398.00 to $397.00 in a research report on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and set a $408.00 target price on shares of AON in a research report on Monday, February 2nd. JPMorgan Chase & Co. dropped their target price on shares of AON from $406.00 to $396.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.00.

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.