Aon plc $AON Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its stake in Aon plc (NYSE:AON) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 57,655 shares of the financial services provider’s stock after selling 2,285 shares during the quarter. Arizona State Retirement System’s holdings in AON were worth $20,345,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its holdings in AON by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock valued at $25,000 after buying an additional 35 shares during the period. Wealth Watch Advisors INC purchased a new stake in AON during the third quarter worth about $25,000. Eagle Bay Advisors LLC purchased a new stake in AON during the fourth quarter worth about $30,000. Salomon & Ludwin LLC purchased a new stake in AON during the third quarter worth about $31,000. Finally, Strive Asset Management LLC purchased a new stake in AON during the third quarter worth about $35,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Down 0.6%

Shares of AON stock opened at $321.47 on Friday. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The stock has a market cap of $68.88 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.77 and a beta of 0.83. The business has a fifty day simple moving average of $325.69 and a 200-day simple moving average of $338.61. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.55.

AON (NYSE:AON) last announced its quarterly 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. 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 analysts’ expectations of $4.38 billion. During the same quarter last year, the business posted $4.42 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts forecast that Aon plc will post 18.98 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a $0.82 dividend. This is an increase from AON’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, May 1st. AON’s dividend payout ratio (DPR) is 17.51%.

Wall Street Analyst Weigh In

Several research firms recently commented on AON. Keefe, Bruyette & Woods lowered their target price on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Evercore reaffirmed an “outperform” rating and issued a $436.00 price target on shares of AON in a research report on Wednesday, January 7th. TD Cowen restated a “buy” rating on shares of AON in a research note on Monday, March 16th. Bank of America upgraded shares of AON from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $398.00 to $397.00 in a research note on Friday, February 27th. Finally, Wells Fargo & Company cut their target price on shares of AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $401.81.

Insiders Place Their Bets

In related news, Director Lester B. Knight acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the completion of the purchase, the director directly owned 143,000 shares in the company, valued at approximately $45,651,320. The trade was a 2.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Darren Zeidel sold 5,040 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total value of $1,641,981.60. Following the sale, the general counsel directly owned 20,254 shares in the company, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

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.