NewEdge Advisors LLC Sells 6,789 Shares of Aon plc $AON

NewEdge Advisors LLC trimmed its holdings in shares of Aon plc (NYSE:AON) by 50.5% during the first quarter, HoldingsChannel reports. The firm owned 6,664 shares of the financial services provider’s stock after selling 6,789 shares during the quarter. NewEdge Advisors LLC’s holdings in AON were worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealth Watch Advisors INC bought a new position in AON during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in AON in the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. purchased a new position in AON in the fourth quarter valued at about $29,000. Strive Asset Management LLC bought a new position in shares of AON during the 3rd quarter valued at approximately $35,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of AON during the 3rd quarter valued at approximately $37,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Performance

Shares of AON stock opened at $355.61 on Friday. The stock has a market capitalization of $75.43 billion, a P/E ratio of 19.60, a PEG ratio of 1.84 and a beta of 0.69. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34. The firm’s 50 day moving average is $348.55 and its 200 day moving average is $333.12. Aon plc has a 12 month low of $304.59 and a 12 month high of $382.34.

AON (NYSE:AON) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.01. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. AON had a net margin of 22.27% and a return on equity of 42.13%. AON’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.49 EPS. On average, sell-side analysts anticipate that Aon plc will post 19.05 earnings per share for the current year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a $0.82 dividend. The ex-dividend date was Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON’s payout ratio is 18.08%.

Insider Activity

In related news, General Counsel Darren Zeidel sold 1,900 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total transaction of $717,744.00. Following the sale, the general counsel owned 11,504 shares of the company’s stock, valued at approximately $4,345,751.04. This represents a 14.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 4,450 shares of company stock worth $1,659,242. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a report on Friday, July 17th. JPMorgan Chase & Co. increased their price objective on AON from $396.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods boosted their target price on AON from $400.00 to $412.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Wells Fargo & Company upped their price target on AON from $406.00 to $419.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded AON from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $410.75.

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.