Oppenheimer Asset Management Inc. Sells 6,626 Shares of Aon plc $AON

Oppenheimer Asset Management Inc. lowered its position in shares of Aon plc (NYSE:AON) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,025 shares of the financial services provider’s stock after selling 6,626 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AON were worth $15,698,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AON. Waterfront Wealth Inc. boosted its stake in AON by 40.4% during the third quarter. Waterfront Wealth Inc. now owns 3,738 shares of the financial services provider’s stock worth $1,276,000 after acquiring an additional 1,075 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of AON by 110.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 1,232 shares during the last quarter. First National Bank of Hutchinson boosted its position in shares of AON by 8.1% in the 3rd quarter. First National Bank of Hutchinson now owns 895 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 67 shares in the last quarter. a16z Perennial Management L.P. purchased a new stake in shares of AON in the 3rd quarter worth approximately $822,000. Finally, Carlson Capital L.P. bought a new position in AON during the 3rd quarter valued at approximately $214,000. 86.14% of the stock is currently owned by institutional investors.

AON Stock Down 9.5%

Shares of AON stock opened at $309.67 on Tuesday. Aon plc has a twelve month low of $309.13 and a twelve month high of $412.97. The company has a quick ratio of 1.35, a current ratio of 2.03 and a debt-to-equity ratio of 1.55. The company’s 50 day moving average is $346.58 and its 200 day moving average is $353.09. The company has a market cap of $66.56 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83.

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

AON Announces Dividend

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 given a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, February 2nd. AON’s dividend payout ratio (DPR) is presently 17.51%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AON. Morgan Stanley set a $400.00 target price on AON in a research note on Tuesday, December 16th. UBS Group reissued a “neutral” rating and set a $385.00 price objective on shares of AON in a research report on Monday, February 2nd. JPMorgan Chase & Co. decreased their target price on shares of AON from $433.00 to $406.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of AON in a report on Monday, December 29th. Finally, Roth Mkm restated a “buy” rating and issued a $390.00 price objective on shares of AON in a report on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, AON currently has a consensus rating of “Moderate Buy” and a consensus target price of $409.75.

About AON

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.