Parallel Advisors LLC Sells 157 Shares of Aon plc $AON

Parallel Advisors LLC lessened its holdings in shares of Aon plc (NYSE:AON) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,046 shares of the financial services provider’s stock after selling 157 shares during the period. Parallel Advisors LLC’s holdings in AON were worth $730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new stake in AON in the first quarter worth about $28,000. Saudi Central Bank bought a new stake in shares of AON in the 1st quarter worth approximately $31,000. HHM Wealth Advisors LLC increased its position in AON by 54.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after buying an additional 29 shares in the last quarter. Tsfg LLC bought a new stake in AON in the first quarter worth $37,000. Finally, Accent Capital Management LLC purchased a new stake in shares of AON in the first quarter worth $40,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Price Performance

Shares of AON opened at $352.86 on Friday. The firm has a fifty day simple moving average of $364.04 and a two-hundred day simple moving average of $367.25. The firm has a market cap of $76.09 billion, a PE ratio of 29.55, a P/E/G ratio of 2.12 and a beta of 0.87. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97.

AON (NYSE:AON) last posted its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.AON’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 earnings per share. On average, equities analysts anticipate that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 1st. AON’s dividend payout ratio is currently 24.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AON shares. Citigroup began coverage on AON in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $402.00 price target for the company. Wolfe Research assumed coverage on shares of AON in a research note on Monday. They issued a “peer perform” rating on the stock. Barclays reissued an “overweight” rating and set a $420.00 price target (up previously from $401.00) on shares of AON in a research report on Thursday, July 31st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $438.00 price objective (up from $436.00) on shares of AON in a research report on Thursday, July 10th. Finally, Piper Sandler boosted their price target on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $414.69.

AON 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.