AMF Tjanstepension AB Sells 56,459 Shares of Aon plc $AON

AMF Tjanstepension AB reduced its position in shares of Aon plc (NYSE:AON) by 44.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,333 shares of the financial services provider’s stock after selling 56,459 shares during the quarter. AMF Tjanstepension AB’s holdings in AON were worth $25,079,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AON. Matrix Trust Co raised its position in shares of AON by 7.1% during the third quarter. Matrix Trust Co now owns 422 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 28 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in AON by 1.0% during the second quarter. Legacy Wealth Asset Management LLC now owns 3,242 shares of the financial services provider’s stock worth $1,157,000 after buying an additional 33 shares during the last quarter. Busey Bank lifted its stake in shares of AON by 0.3% in the third quarter. Busey Bank now owns 9,565 shares of the financial services provider’s stock valued at $3,411,000 after buying an additional 33 shares in the last quarter. Rossby Financial LCC grew its holdings in shares of AON by 9.1% during the second quarter. Rossby Financial LCC now owns 406 shares of the financial services provider’s stock valued at $145,000 after buying an additional 34 shares during the last quarter. Finally, Heritage Family Offices LLP grew its holdings in shares of AON by 1.5% during the third quarter. Heritage Family Offices LLP now owns 2,308 shares of the financial services provider’s stock valued at $823,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AON in a research report on Monday, December 29th. The Goldman Sachs Group set a $395.00 target price on AON in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their target price on AON from $410.00 to $416.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Morgan Stanley set a $400.00 price objective on AON in a research note on Tuesday, December 16th. Finally, Cantor Fitzgerald lowered their target price on shares of AON from $450.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $408.47.

AON Stock Performance

NYSE AON opened at $338.56 on Friday. The company has a market capitalization of $72.77 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 1.72 and a beta of 0.84. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.35 and a current ratio of 1.35. Aon plc has a 52-week low of $323.73 and a 52-week high of $412.97. The company has a 50-day simple moving average of $348.67 and a 200 day simple moving average of $354.35.

AON (NYSE:AON) last released its earnings results on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.97 billion. AON had a net margin of 15.96% and a return on equity of 48.88%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.72 EPS. On average, research analysts predict 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 paid a $0.745 dividend. The ex-dividend date is Monday, February 2nd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s payout ratio is presently 23.88%.

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.