Graypoint LLC Sells 289 Shares of Aon plc (NYSE:AON)

Graypoint LLC lowered its position in Aon plc (NYSE:AON) by 18.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,297 shares of the financial services provider’s stock after selling 289 shares during the period. Graypoint LLC’s holdings in AON were worth $378,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in AON. Lazard Asset Management LLC raised its position in shares of AON by 1.1% in the third quarter. Lazard Asset Management LLC now owns 4,479,652 shares of the financial services provider’s stock valued at $1,452,390,000 after purchasing an additional 50,290 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in AON by 106,777.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,817,279 shares of the financial services provider’s stock valued at $845,578,000 after acquiring an additional 2,814,643 shares during the period. Northern Trust Corp grew its position in shares of AON by 0.8% in the third quarter. Northern Trust Corp now owns 2,244,909 shares of the financial services provider’s stock valued at $727,844,000 after purchasing an additional 18,500 shares in the last quarter. Morgan Stanley raised its stake in shares of AON by 38.7% during the 4th quarter. Morgan Stanley now owns 2,223,478 shares of the financial services provider’s stock valued at $667,355,000 after purchasing an additional 620,067 shares during the period. Finally, FMR LLC lifted its holdings in AON by 3.8% during the 3rd quarter. FMR LLC now owns 1,523,946 shares of the financial services provider’s stock worth $494,094,000 after purchasing an additional 55,703 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Down 1.0 %

AON opened at $308.00 on Monday. The stock has a market cap of $61.08 billion, a PE ratio of 24.68, a PEG ratio of 1.87 and a beta of 0.86. Aon plc has a 52 week low of $284.85 and a 52 week high of $347.37. The business has a 50 day moving average of $317.49 and a 200-day moving average of $315.35.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $3.89 earnings per share for the quarter, missing the consensus estimate of $4.07 by ($0.18). The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.36 billion. AON had a net margin of 19.17% and a negative return on equity of 1,150.40%. AON’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $3.89 EPS. Equities analysts anticipate that Aon plc will post 15.77 EPS for the current year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.675 per share. This is an increase from AON’s previous quarterly dividend of $0.62. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.88%. AON’s dividend payout ratio is presently 19.71%.

Insider Buying and Selling

In related news, Director Lester B. Knight purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were purchased at an average price of $301.97 per share, with a total value of $15,098,500.00. Following the acquisition, the director now directly owns 134,000 shares in the company, valued at approximately $40,463,980. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Lester B. Knight purchased 50,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were purchased at an average cost of $301.97 per share, with a total value of $15,098,500.00. Following the acquisition, the director now directly owns 134,000 shares of the company’s stock, valued at $40,463,980. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christa Davies sold 20,618 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the completion of the transaction, the chief financial officer now directly owns 159,570 shares in the company, valued at $49,690,098. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,532 shares of company stock worth $23,335,805. 1.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AON. UBS Group lowered their price target on shares of AON from $333.00 to $308.00 and set a “neutral” rating on the stock in a report on Monday, February 5th. JPMorgan Chase & Co. increased their target price on shares of AON from $318.00 to $353.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Piper Sandler boosted their price target on shares of AON from $306.00 to $326.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. The Goldman Sachs Group dropped their price objective on AON from $350.00 to $310.00 and set a “neutral” rating for the company in a research note on Tuesday, January 9th. Finally, Wells Fargo & Company cut their price objective on AON from $304.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $337.50.

AON Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions 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.