Valley Wealth Managers Inc. Lowers Holdings in Aon plc (NYSE:AON)

Valley Wealth Managers Inc. lowered its position in Aon plc (NYSE:AON) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 858 shares of the financial services provider’s stock after selling 77 shares during the quarter. Valley Wealth Managers Inc.’s holdings in AON were worth $252,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of AON in the fourth quarter worth about $423,030,000. Meritage Group LP purchased a new position in AON in the 1st quarter worth approximately $258,471,000. Farallon Capital Management LLC bought a new position in AON during the first quarter valued at approximately $210,911,000. Bank of New York Mellon Corp boosted its position in AON by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock worth $587,445,000 after purchasing an additional 548,563 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in AON by 32.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock valued at $648,663,000 after purchasing an additional 471,424 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on AON shares. Piper Sandler raised their target price on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Barclays initiated coverage on AON in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 target price on the stock. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and raised their price target for the company from $313.00 to $380.00 in a report on Tuesday, July 30th. Citigroup assumed coverage on AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 target price for the company. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AON presently has a consensus rating of “Hold” and a consensus target price of $337.27.

AON Trading Down 0.1 %

Shares of NYSE AON opened at $347.85 on Friday. The business’s 50 day moving average price is $325.51 and its 200-day moving average price is $310.28. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $352.49. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The company has a market cap of $75.57 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.22 and a beta of 0.92.

AON (NYSE:AON) last issued its earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.76 earnings per share. On average, sell-side analysts expect that Aon plc will post 15.23 earnings per share for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, August 1st. AON’s dividend payout ratio (DPR) is presently 21.16%.

AON 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.