Tower Bridge Advisors Sells 621 Shares of Aon plc (NYSE:AON)

Tower Bridge Advisors cut its holdings in Aon plc (NYSE:AON) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,014 shares of the financial services provider’s stock after selling 621 shares during the period. AON accounts for 1.7% of Tower Bridge Advisors’ portfolio, making the stock its 11th largest holding. Tower Bridge Advisors’ holdings in AON were worth $15,808,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of AON by 0.4% in the third quarter. State Street Corp now owns 8,844,121 shares of the financial services provider’s stock worth $3,059,977,000 after purchasing an additional 32,417 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AON by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,322,177 shares of the financial services provider’s stock worth $1,489,690,000 after purchasing an additional 38,447 shares in the last quarter. Veritas Asset Management LLP increased its stake in shares of AON by 41.6% in the third quarter. Veritas Asset Management LLP now owns 3,010,557 shares of the financial services provider’s stock worth $1,041,623,000 after purchasing an additional 883,761 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of AON by 15.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,564,824 shares of the financial services provider’s stock worth $921,182,000 after purchasing an additional 343,592 shares in the last quarter. Finally, Cantillon Capital Management LLC increased its stake in shares of AON by 15.6% in the third quarter. Cantillon Capital Management LLC now owns 1,316,218 shares of the financial services provider’s stock worth $455,398,000 after purchasing an additional 177,956 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AON has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of AON from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company raised their target price on shares of AON from $410.00 to $445.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler raised their target price on shares of AON from $372.00 to $384.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays raised their target price on shares of AON from $394.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets raised their target price on shares of AON from $325.00 to $380.00 and gave the company a “market perform” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, AON currently has an average rating of “Hold” and a consensus price target of $386.21.

AON Stock Performance

Shares of NYSE:AON opened at $409.15 on Friday. Aon plc has a 52 week low of $268.06 and a 52 week high of $409.99. The stock has a market capitalization of $88.38 billion, a P/E ratio of 32.32, a PEG ratio of 2.12 and a beta of 0.93. The firm has a fifty day simple moving average of $372.88 and a two-hundred day simple moving average of $364.09. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.58.

AON (NYSE:AON) last released its earnings results on Friday, January 31st. The financial services provider reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.25 by $0.17. AON had a net margin of 16.91% and a return on equity of 70.84%. During the same period last year, the firm posted $3.89 earnings per share. On average, analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.675 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.70 annualized dividend and a dividend yield of 0.66%. AON’s dividend payout ratio (DPR) is presently 21.33%.

AON Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.