Aon plc (NYSE:AON) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in shares of Aon plc (NYSE:AON) by 53.2% in the 1st quarter, Holdings Channel reports. The fund owned 1,818 shares of the financial services provider’s stock after selling 2,064 shares during the period. Pitcairn Co.’s holdings in AON were worth $607,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AON. Wellington Management Group LLP grew its stake in shares of AON by 49.6% during the third quarter. Wellington Management Group LLP now owns 10,075 shares of the financial services provider’s stock valued at $3,267,000 after acquiring an additional 3,341 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of AON during the fourth quarter valued at about $25,000. Brookstone Capital Management grew its stake in shares of AON by 5.5% during the fourth quarter. Brookstone Capital Management now owns 1,289 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 67 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of AON by 49.9% during the fourth quarter. SG Americas Securities LLC now owns 8,286 shares of the financial services provider’s stock worth $2,411,000 after purchasing an additional 2,757 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in shares of AON during the fourth quarter worth about $97,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AON has been the topic of several research analyst reports. Citigroup initiated coverage on shares of AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price target on the stock. Bank of America cut shares of AON from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Morgan Stanley reduced their price target on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods increased their price target on shares of AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $311.00 target price on shares of AON in a report on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $321.36.

Insider Activity

In other AON news, Director Lester B. Knight purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the completion of the transaction, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.15% of the company’s stock.

AON Trading Up 0.3 %

AON opened at $298.95 on Friday. The business’s 50 day moving average is $291.99 and its 200-day moving average is $302.41. The stock has a market cap of $65.00 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. Aon plc has a twelve month low of $268.06 and a twelve month high of $344.68.

AON (NYSE:AON) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.16). The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the firm posted $2.76 EPS. As a group, analysts forecast that Aon plc will post 15.41 EPS for the current year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.675 per share. The ex-dividend date is Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.90%. AON’s dividend payout ratio (DPR) is presently 21.16%.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.