Tidal Investments LLC Sells 13,512 Shares of Aon plc $AON

Tidal Investments LLC reduced its stake in shares of Aon plc (NYSE:AON) by 12.2% during the second quarter, Holdings Channel reports. The institutional investor owned 97,552 shares of the financial services provider’s stock after selling 13,512 shares during the quarter. Tidal Investments LLC’s holdings in AON were worth $32,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in AON by 32,835.5% during the 2nd quarter. California State Teachers Retirement System now owns 101,761,829 shares of the financial services provider’s stock valued at $33,753,381,000 after acquiring an additional 101,452,856 shares during the period. Dodge & Cox lifted its position in AON by 126.6% in the fourth quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock valued at $2,770,975,000 after purchasing an additional 4,387,773 shares during the last quarter. Norges Bank purchased a new stake in shares of AON during the fourth quarter valued at approximately $1,155,981,000. Viking Global Investors LP purchased a new stake in shares of AON during the third quarter valued at approximately $504,424,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of AON by 40,219.8% in the third quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock worth $301,922,000 after purchasing an additional 844,615 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AON. TD Cowen reiterated a “buy” rating on shares of AON in a report on Tuesday, September 1st. Evercore reaffirmed an “outperform” rating and set a $423.00 price target on shares of AON in a research report on Wednesday, September 2nd. UBS Group reiterated a “neutral” rating on shares of AON in a research report on Monday, August 31st. JPMorgan Chase & Co. boosted their target price on AON from $396.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Roth Capital set a $380.00 target price on AON in a report on Tuesday, September 1st. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $399.12.

AON Price Performance

AON stock opened at $304.82 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a 50 day moving average price of $352.40 and a 200-day moving average price of $334.03. Aon plc has a 52-week low of $303.59 and a 52-week high of $382.34. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.60 and a beta of 0.66.

AON (NYSE:AON) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, beating the consensus estimate of $3.80 by $0.01. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. AON had a net margin of 22.27% and a return on equity of 42.13%. AON’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.49 EPS. Equities research analysts forecast that Aon plc will post 18.94 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, August 3rd. AON’s dividend payout ratio is presently 18.08%.

Insiders Place Their Bets

In other news, Director Lester Knight acquired 20,000 shares of AON stock in a transaction that occurred on Wednesday, September 2nd. The stock was bought at an average price of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the transaction, the director owned 163,000 shares in the company, valued at $53,379,240. The trade was a 13.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Darren Zeidel sold 1,950 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $372.05, for a total transaction of $725,497.50. Following the completion of the transaction, the general counsel owned 13,404 shares in the company, valued at $4,986,958.20. This trade represents a 12.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,450 shares of company stock worth $1,659,242. Company insiders own 1.00% of the company’s stock.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.

Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.