WCM Investment Management LLC Sells 2,400 Shares of Aon plc $AON

WCM Investment Management LLC lowered its position in shares of Aon plc (NYSE:AON) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,037,843 shares of the financial services provider’s stock after selling 2,400 shares during the period. AON makes up approximately 1.5% of WCM Investment Management LLC’s portfolio, making the stock its 25th largest position. WCM Investment Management LLC owned approximately 0.95% of AON worth $722,660,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its stake in shares of AON by 2.2% in the second quarter. Janney Montgomery Scott LLC now owns 11,478 shares of the financial services provider’s stock worth $4,095,000 after purchasing an additional 248 shares during the last quarter. J. Safra Sarasin Holding AG purchased a new position in AON in the 2nd quarter worth about $292,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in AON by 9.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,943 shares of the financial services provider’s stock valued at $9,969,000 after acquiring an additional 2,489 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of AON during the 2nd quarter valued at about $98,000. Finally, OLD National Bancorp IN grew its stake in shares of AON by 119.3% in the second quarter. OLD National Bancorp IN now owns 4,693 shares of the financial services provider’s stock worth $1,674,000 after acquiring an additional 2,553 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Price Performance

Shares of AON stock opened at $349.90 on Tuesday. The stock has a market cap of $75.20 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.79 and a beta of 0.83. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.35 and a current ratio of 2.03. The stock’s fifty day moving average is $347.99 and its 200 day moving average is $353.68. Aon plc has a one year low of $323.73 and a one year high of $412.97.

AON (NYSE:AON) last released its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.75 by $0.10. AON had a return on equity of 45.23% and a net margin of 21.51%.The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the company posted $4.42 earnings per share. AON’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.745 per share. The ex-dividend date is Monday, February 2nd. This represents a $2.98 dividend on an annualized basis and a yield of 0.9%. AON’s dividend payout ratio (DPR) is presently 17.51%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI restated an “outperform” rating and set a $436.00 price objective on shares of AON in a research report on Wednesday, January 7th. Wells Fargo & Company dropped their price target on AON from $448.00 to $443.00 and set an “overweight” rating on the stock in a research note on Sunday. JPMorgan Chase & Co. cut their price objective on AON from $433.00 to $406.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. TD Cowen lowered their target price on AON from $419.00 to $416.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Finally, Cantor Fitzgerald boosted their price target on AON from $393.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $408.44.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.