WCM Investment Management LLC Sells 33,749 Shares of Aon plc $AON

WCM Investment Management LLC cut its holdings in Aon plc (NYSE:AON) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,952,379 shares of the financial services provider’s stock after selling 33,749 shares during the period. AON accounts for 1.4% of WCM Investment Management LLC’s holdings, making the stock its 27th biggest holding. WCM Investment Management LLC owned 0.91% of AON worth $632,688,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wealth Watch Advisors INC purchased a new position in shares of AON in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in AON in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. purchased a new stake in AON in the 4th quarter worth $29,000. Eagle Bay Advisors LLC bought a new stake in AON in the 4th quarter worth approximately $30,000. Finally, Strive Asset Management LLC bought a new stake in AON in the 3rd quarter worth approximately $35,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AON

In related news, General Counsel Darren Zeidel sold 600 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total transaction of $216,000.00. Following the transaction, the general counsel directly owned 15,354 shares in the company, valued at approximately $5,527,440. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AON. Barclays increased 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. Piper Sandler cut shares of AON from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $377.00 in a research report on Wednesday. Mizuho increased their price objective on shares of AON from $389.00 to $426.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Cantor Fitzgerald lifted their price objective on shares of AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of AON from $404.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $404.56.

AON Stock Performance

NYSE AON opened at $366.69 on Monday. The business’s 50 day moving average price is $332.19 and its 200-day moving average price is $331.02. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The company has a market cap of $78.32 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.92 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95.

AON (NYSE:AON) last issued its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $5.67 earnings per share. AON’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that Aon plc will post 19.09 earnings per share for the current year.

AON Dividend Announcement

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

AON Company 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.