Bank of New York Mellon Corp Has $1.23 Billion Holdings in Aon plc $AON

Bank of New York Mellon Corp decreased its stake in shares of Aon plc (NYSE:AON) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,479,061 shares of the financial services provider’s stock after selling 236,285 shares during the quarter. Bank of New York Mellon Corp’s holdings in AON were worth $1,227,691,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC increased its position in AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock valued at $5,246,000 after buying an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of AON by 9.1% during the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after purchasing an additional 8,216 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of AON by 35.2% in the 2nd quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after purchasing an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC grew its position in AON by 27.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 583 shares during the period. Finally, Quantinno Capital Management LP increased its stake in AON by 46.1% during the 2nd quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after purchasing an additional 12,631 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AON shares. Wells Fargo & Company dropped their price objective on shares of AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. TD Cowen restated a “buy” rating on shares of AON in a report on Monday, March 16th. Barclays cut their price target on AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $396.81.

AON Trading Down 0.7%

NYSE:AON opened at $318.11 on Wednesday. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. The firm has a 50-day moving average price of $321.79 and a two-hundred day moving average price of $333.87. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $67.94 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.68 and a beta of 0.71.

AON (NYSE:AON) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.37 by $0.11. The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.AON’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.67 earnings per share. On average, equities analysts expect that Aon plc will post 19.1 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.75. AON’s dividend payout ratio (DPR) is presently 16.36%.

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.