Vanguard Group Inc. Sells 310,352 Shares of Aon plc $AON

Vanguard Group Inc. lowered its stake in shares of Aon plc (NYSE:AON) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,979,391 shares of the financial services provider’s stock after selling 310,352 shares during the period. Vanguard Group Inc. owned 9.30% of AON worth $7,124,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AON. Matrix Trust Co lifted its holdings in shares of AON by 7.1% in the third quarter. Matrix Trust Co now owns 422 shares of the financial services provider’s stock worth $150,000 after buying an additional 28 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of AON by 1.0% in the second quarter. Legacy Wealth Asset Management LLC now owns 3,242 shares of the financial services provider’s stock worth $1,157,000 after purchasing an additional 33 shares during the period. Busey Bank boosted its stake in AON by 0.3% during the third quarter. Busey Bank now owns 9,565 shares of the financial services provider’s stock valued at $3,411,000 after buying an additional 33 shares during the period. Rossby Financial LCC grew its position in AON by 9.1% during the second quarter. Rossby Financial LCC now owns 406 shares of the financial services provider’s stock worth $145,000 after buying an additional 34 shares in the last quarter. Finally, Heritage Family Offices LLP raised its holdings in shares of AON by 1.5% in the 3rd quarter. Heritage Family Offices LLP now owns 2,308 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 35 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

AON Price Performance

AON opened at $321.15 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.35 and a current ratio of 2.03. The stock has a market capitalization of $69.03 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.83. The stock’s 50 day moving average price is $343.76 and its 200-day moving average price is $351.53. Aon plc has a 52-week low of $304.59 and a 52-week high of $412.97.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.75 by $0.10. AON had a net margin of 21.51% and a return on equity of 45.23%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period in the prior year, the business earned $4.42 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a dividend of $0.745 per share. The ex-dividend date was Monday, February 2nd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s payout ratio is currently 17.51%.

Insider Transactions at AON

In other AON news, Director Lester B. Knight bought 4,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average price of $319.24 per share, for a total transaction of $1,276,960.00. Following the acquisition, the director owned 143,000 shares in the company, valued at approximately $45,651,320. This represents a 2.88% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $395.00 target price on shares of AON in a research report on Wednesday, January 7th. Jefferies Financial Group reissued a “buy” rating and set a $408.00 price objective on shares of AON in a report on Monday, February 2nd. Mizuho set a $398.00 price target on shares of AON in a research report on Tuesday, February 3rd. Evercore reaffirmed an “outperform” rating and issued a $436.00 price objective on shares of AON in a research note on Wednesday, January 7th. Finally, Barclays upped their price target on shares of AON from $379.00 to $381.00 and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $409.75.

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.