Allspring Global Investments Holdings LLC Cuts Stake in Aon plc $AON

Allspring Global Investments Holdings LLC reduced its position in shares of Aon plc (NYSE:AON) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,763 shares of the financial services provider’s stock after selling 3,283 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AON were worth $3,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kathmere Capital Management LLC lifted its position in AON by 2.1% during the fourth quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock worth $558,000 after buying an additional 32 shares in the last quarter. City National Bank of Florida MSD boosted its holdings in AON by 3.8% in the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 32 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of AON by 1.8% in the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock valued at $664,000 after buying an additional 33 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of AON by 39.3% during the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after buying an additional 33 shares during the last quarter. Finally, Mattern Capital Management LLC lifted its stake in shares of AON by 0.8% in the 4th quarter. Mattern Capital Management LLC now owns 3,974 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

AON has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of AON from $360.00 to $383.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Barclays boosted their target price on AON from $372.00 to $382.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Wells Fargo & Company lowered their price target on AON from $409.00 to $406.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Piper Sandler downgraded AON from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $377.00 in a research report on Wednesday, July 15th. Finally, Citigroup raised their price objective on shares of AON from $412.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, AON currently has an average rating of “Moderate Buy” and a consensus price target of $404.56.

Insider Buying and Selling

In other news, General Counsel Darren Zeidel sold 600 shares of AON stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the transaction, the general counsel owned 15,354 shares of the company’s stock, valued at $5,527,440. The trade was a 3.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

AON Trading Up 1.5%

NYSE AON opened at $361.26 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $77.16 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.86 and a beta of 0.71. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00. The firm has a 50-day moving average price of $336.57 and a 200 day moving average price of $331.38.

AON (NYSE:AON) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the company earned $5.67 earnings per share. AON’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts expect that Aon plc will post 19.09 EPS for the current year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a yield of 0.9%. AON’s payout ratio is currently 18.00%.

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.