Gabelli Funds LLC Sells 1,200 Shares of Aon plc (NYSE:AON)

Gabelli Funds LLC decreased its stake in Aon plc (NYSE:AONFree Report) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,750 shares of the financial services provider’s stock after selling 1,200 shares during the period. Gabelli Funds LLC’s holdings in AON were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Jump Financial LLC bought a new position in shares of AON in the 3rd quarter worth about $231,000. Avantax Advisory Services Inc. lifted its stake in AON by 7.5% in the third quarter. Avantax Advisory Services Inc. now owns 674 shares of the financial services provider’s stock valued at $218,000 after buying an additional 47 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of AON by 2.2% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 37 shares during the period. D.A. Davidson & CO. boosted its position in shares of AON by 4.7% during the 3rd quarter. D.A. Davidson & CO. now owns 2,584 shares of the financial services provider’s stock worth $838,000 after purchasing an additional 116 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of AON by 8.9% in the 3rd quarter. HighTower Advisors LLC now owns 42,869 shares of the financial services provider’s stock worth $13,912,000 after purchasing an additional 3,519 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

AON Trading Down 0.9 %

NYSE:AON opened at $283.12 on Monday. Aon plc has a 12 month low of $268.06 and a 12 month high of $347.37. The firm’s 50 day moving average is $295.68 and its 200 day moving average is $305.71. The stock has a market capitalization of $61.56 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

AON (NYSE:AONGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.14 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.17 EPS. Research analysts predict that Aon plc will post 15.48 earnings per share for the current year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.675 per share. This is a boost from AON’s previous quarterly dividend of $0.62. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Tuesday, April 30th. AON’s dividend payout ratio is presently 21.16%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup assumed coverage on shares of AON in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price objective on the stock. Piper Sandler cut their price target on AON from $326.00 to $312.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Royal Bank of Canada lowered their price objective on AON from $325.00 to $315.00 and set a “sector perform” rating for the company in a research note on Monday, April 29th. Morgan Stanley lifted their target price on AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $321.86.

View Our Latest Stock Analysis on AON

Insider Buying and Selling at AON

In related news, Director Lester B. Knight purchased 10,000 shares of AON stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $276.61 per share, for a total transaction of $2,766,100.00. Following the completion of the transaction, the director now owns 139,000 shares in the company, valued at $38,448,790. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.15% of the company’s stock.

AON Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AON (NYSE:AON)

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