Southpoint Capital Advisors LP Decreases Holdings in Aon plc $AON

Southpoint Capital Advisors LP decreased its stake in Aon plc (NYSE:AON) by 23.1% during the 1st quarter, Holdings Channel reports. The firm owned 500,000 shares of the financial services provider’s stock after selling 150,000 shares during the quarter. AON makes up approximately 3.3% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 13th largest position. Southpoint Capital Advisors LP’s holdings in AON were worth $161,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Wealth Watch Advisors INC acquired a new stake in AON in the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of AON during the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of AON in the fourth quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of AON in the fourth quarter worth approximately $30,000. Finally, Strive Asset Management LLC purchased a new stake in shares of AON during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AON shares. Mizuho increased their price objective on AON from $389.00 to $426.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Piper Sandler cut shares of AON from an “overweight” rating to a “neutral” rating and increased their target price for the company from $355.00 to $377.00 in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of AON from $396.00 to $412.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Citigroup boosted their price target on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley increased their price objective on shares of AON from $370.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $404.56.

AON Stock Performance

NYSE AON opened at $366.80 on Tuesday. 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 stock’s fifty day moving average is $337.38 and its two-hundred day moving average is $331.37. The firm has a market capitalization of $78.34 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $378.70.

AON (NYSE:AON) last issued its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period last year, the company earned $5.67 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts anticipate that Aon plc will post 19.09 earnings per share for the current year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s dividend payout ratio (DPR) is presently 18.00%.

Insider Buying and Selling

In other AON news, General Counsel Darren Zeidel sold 600 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total value of $216,000.00. Following the transaction, the general counsel directly owned 15,354 shares in the company, valued at $5,527,440. The trade was a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

AON Profile

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.