Bishop Rock Capital L.P. Lowers Stock Position in Aon plc (NYSE:AON)

Bishop Rock Capital L.P. trimmed its holdings in shares of Aon plc (NYSE:AON) by 55.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,186 shares of the financial services provider’s stock after selling 5,143 shares during the period. AON comprises 2.0% of Bishop Rock Capital L.P.’s investment portfolio, making the stock its 14th biggest holding. Bishop Rock Capital L.P.’s holdings in AON were worth $1,320,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Channel Wealth LLC purchased a new position in AON in the first quarter valued at about $236,000. Quadrant Capital Group LLC grew its holdings in shares of AON by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,518 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 339 shares during the period. MAI Capital Management raised its holdings in AON by 45.2% during the fourth quarter. MAI Capital Management now owns 1,590 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 495 shares during the last quarter. NewEdge Wealth LLC boosted its position in AON by 1.8% during the first quarter. NewEdge Wealth LLC now owns 3,149 shares of the financial services provider’s stock worth $993,000 after purchasing an additional 55 shares in the last quarter. Finally, SageView Advisory Group LLC purchased a new position in shares of AON in the first quarter valued at $499,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

AON Trading Down 0.1 %

Shares of AON stock opened at $333.15 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 61.66. Aon plc has a fifty-two week low of $266.35 and a fifty-two week high of $347.37. The firm’s 50 day moving average price is $329.73 and its two-hundred day moving average price is $322.42. The stock has a market cap of $67.59 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, July 28th. The financial services provider reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). AON had a negative return on equity of 1,312.86% and a net margin of 20.78%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.17 billion. During the same period last year, the company posted $2.63 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts anticipate that Aon plc will post 14.26 EPS for the current year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Monday, July 31st. AON’s dividend payout ratio (DPR) is presently 19.16%.

Wall Street Analysts Forecast Growth

AON has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of AON from $322.00 to $351.00 in a research note on Thursday, July 6th. Morgan Stanley reissued an “equal weight” rating and set a $340.00 price objective on shares of AON in a research note on Tuesday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $352.00 target price on shares of AON in a research note on Monday, July 31st. Piper Sandler cut their price target on AON from $325.00 to $322.00 and set a “neutral” rating for the company in a report on Monday, July 31st. Finally, StockNews.com assumed coverage on AON in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, AON presently has a consensus rating of “Hold” and an average price target of $341.55.

Insider Buying and Selling at AON

In other news, Director Byron Spruell bought 800 shares of AON stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $324.57 per share, with a total value of $259,656.00. Following the completion of the transaction, the director now owns 4,001 shares in the company, valued at approximately $1,298,604.57. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.15% of the stock is owned by corporate insiders.

AON Company Profile

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.