Mediolanum International Funds Ltd Cuts Holdings in Aon plc (NYSE:AON)

Mediolanum International Funds Ltd trimmed its position in shares of Aon plc (NYSE:AON) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,520 shares of the financial services provider’s stock after selling 2,230 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AON were worth $31,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of AON. 180 Wealth Advisors LLC raised its holdings in AON by 6.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 910 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 53 shares during the period. Kathmere Capital Management LLC raised its holdings in AON by 8.6% in the 1st quarter. Kathmere Capital Management LLC now owns 2,187 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 173 shares during the period. WoodTrust Financial Corp raised its holdings in AON by 2.5% in the 1st quarter. WoodTrust Financial Corp now owns 5,288 shares of the financial services provider’s stock worth $1,765,000 after purchasing an additional 128 shares during the period. Cornerstone Wealth Group LLC raised its holdings in AON by 15.4% during the first quarter. Cornerstone Wealth Group LLC now owns 826 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 110 shares during the period. Finally, Sandy Cove Advisors LLC raised its holdings in AON by 29.1% during the first quarter. Sandy Cove Advisors LLC now owns 1,870 shares of the financial services provider’s stock valued at $624,000 after acquiring an additional 422 shares during the period. 86.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AON has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $335.00 price target on shares of AON in a report on Monday, August 5th. Wells Fargo & Company raised their price target on AON from $300.00 to $315.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Evercore ISI raised their price target on AON from $338.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. TD Cowen raised their price target on AON from $413.00 to $432.00 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AON from $311.00 to $353.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $349.69.

AON Trading Up 8.0 %

AON stock traded up $28.44 during trading hours on Friday, hitting $385.29. The company had a trading volume of 628,002 shares, compared to its average volume of 1,177,032. The company has a 50-day moving average price of $347.63 and a two-hundred day moving average price of $316.00. The firm has a market cap of $83.70 billion, a P/E ratio of 30.66, a P/E/G ratio of 2.31 and a beta of 0.92. Aon plc has a 1 year low of $268.06 and a 1 year high of $389.21. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the company posted $2.76 EPS. AON’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, sell-side analysts anticipate that Aon plc will post 15.21 earnings per share for the current year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 1st. AON’s dividend payout ratio (DPR) is 21.58%.

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.