Envestnet Portfolio Solutions Inc. Decreases Holdings in Aon plc (NYSE:AON)

Envestnet Portfolio Solutions Inc. reduced its position in Aon plc (NYSE:AON) by 70.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,530 shares of the financial services provider’s stock after selling 6,134 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AON were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of AON by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,519,752 shares of the financial services provider’s stock valued at $7,010,714,000 after purchasing an additional 88,361 shares during the last quarter. Geode Capital Management LLC grew its position in AON by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,949,919 shares of the financial services provider’s stock valued at $1,773,165,000 after buying an additional 627,742 shares during the period. Bank of New York Mellon Corp increased its holdings in AON by 15.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,564,824 shares of the financial services provider’s stock valued at $921,182,000 after buying an additional 343,592 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AON by 2.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,329,221 shares of the financial services provider’s stock worth $824,498,000 after acquiring an additional 64,720 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of AON by 9.3% during the 4th quarter. Northern Trust Corp now owns 2,158,943 shares of the financial services provider’s stock worth $775,406,000 after acquiring an additional 183,442 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AON shares. Evercore ISI decreased their target price on AON from $420.00 to $398.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on AON from $414.00 to $409.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Piper Sandler upgraded AON from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $384.00 to $378.00 in a research note on Monday, April 28th. Redburn Atlantic upgraded shares of AON to a “hold” rating in a research note on Tuesday, March 25th. Finally, Barclays dropped their price target on shares of AON from $430.00 to $415.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $397.27.

AON Stock Performance

Shares of NYSE AON opened at $360.77 on Wednesday. The company has a market cap of $77.90 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.15 and a beta of 0.86. Aon plc has a 52-week low of $285.35 and a 52-week high of $412.97. The company has a debt-to-equity ratio of 2.26, a quick ratio of 1.73 and a current ratio of 1.73. The firm’s fifty day moving average is $359.01 and its two-hundred day moving average is $371.12.

AON (NYSE:AON) last announced its earnings results on Friday, April 25th. The financial services provider reported $5.67 earnings per share for the quarter, missing the consensus estimate of $6.04 by ($0.37). AON had a net margin of 15.58% and a return on equity of 52.71%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the company posted $5.66 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. As a group, analysts anticipate that Aon plc will post 17.21 EPS for the current fiscal year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.745 per share. This is a positive change from AON’s previous quarterly dividend of $0.68. The ex-dividend date was Thursday, May 1st. This represents a $2.98 dividend on an annualized basis and a yield of 0.83%. AON’s dividend payout ratio is presently 25.38%.

AON Company Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.