Capital Group Private Client Services Inc. Has $15.97 Million Position in Aon plc $AON

Capital Group Private Client Services Inc. trimmed its position in Aon plc (NYSE:AON) by 75.0% during the third quarter, Holdings Channel reports. The institutional investor owned 44,787 shares of the financial services provider’s stock after selling 134,405 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in AON were worth $15,970,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AON by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock worth $7,238,569,000 after purchasing an additional 511,292 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AON by 3.2% in the second quarter. Geode Capital Management LLC now owns 5,588,279 shares of the financial services provider’s stock valued at $1,987,961,000 after buying an additional 173,722 shares during the period. Bank of New York Mellon Corp grew its holdings in AON by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,715,346 shares of the financial services provider’s stock worth $1,324,818,000 after acquiring an additional 207,690 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of AON by 12.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,330,363 shares of the financial services provider’s stock valued at $830,945,000 after purchasing an additional 249,549 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in shares of AON by 1.9% during the second quarter. Artisan Partners Limited Partnership now owns 2,176,045 shares of the financial services provider’s stock worth $776,326,000 after purchasing an additional 40,213 shares during the period. Institutional investors own 86.14% of the company’s stock.

AON Stock Down 2.2%

NYSE:AON opened at $333.08 on Tuesday. Aon plc has a 52-week low of $304.59 and a 52-week high of $407.07. The company has a debt-to-equity ratio of 1.55, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a 50-day simple moving average of $337.13 and a 200 day simple moving average of $347.72. The company has a market cap of $71.37 billion, a PE ratio of 19.57, a PEG ratio of 1.79 and a beta of 0.82.

AON (NYSE:AON) last announced its quarterly earnings data on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.10. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.42 earnings per share. On average, sell-side analysts expect that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, February 2nd. AON’s dividend payout ratio is presently 17.51%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AON. Mizuho raised AON from a “neutral” rating to an “outperform” rating and set a $397.00 target price on the stock in a research note on Friday, February 27th. Bank of America upgraded shares of AON from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $398.00 to $397.00 in a report on Friday, February 27th. Morgan Stanley set a $400.00 price target on shares of AON in a research report on Tuesday, December 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $408.00 price objective on shares of AON in a research note on Monday, February 2nd. Finally, Cantor Fitzgerald increased their price target on AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $408.94.

Insider Activity at AON

In other news, Director Lester B. Knight bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $319.24 per share, with a total value of $1,276,960.00. Following the completion of the purchase, the director owned 143,000 shares of the company’s stock, valued at $45,651,320. This represents a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $1,641,981.60. Following the completion of the sale, the general counsel owned 20,254 shares of the company’s stock, valued at approximately $6,598,550.66. This represents a 19.93% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

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.