Swiss Life Asset Management Ltd Cuts Holdings in Aon plc $AON

Swiss Life Asset Management Ltd lowered its position in Aon plc (NYSE:AON) by 37.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,203 shares of the financial services provider’s stock after selling 14,246 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in AON were worth $8,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its holdings in shares of AON by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Wealth Watch Advisors INC purchased a new stake in shares of AON during the 3rd quarter worth about $25,000. Eagle Bay Advisors LLC purchased a new stake in shares of AON during the 4th quarter worth about $30,000. Strive Asset Management LLC purchased a new stake in shares of AON during the 3rd quarter worth about $35,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of AON during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at AON

In related news, General Counsel Darren Zeidel sold 5,040 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the transaction, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

AON Stock Performance

AON stock opened at $316.29 on Wednesday. The stock has a 50 day moving average of $323.95 and a 200-day moving average of $335.73. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. The stock has a market cap of $67.55 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same period last year, the business posted $5.67 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts expect that Aon plc will post 19.07 EPS for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. This is a boost from AON’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, May 1st. AON’s dividend payout ratio (DPR) is 16.36%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AON. Piper Sandler decreased their target price on AON from $388.00 to $355.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Wells Fargo & Company decreased their target price on AON from $443.00 to $402.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. UBS Group reiterated a “neutral” rating and set a $385.00 target price on shares of AON in a report on Monday, February 2nd. Citigroup boosted their target price on AON from $402.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Finally, Mizuho decreased their target price on AON from $394.00 to $389.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $397.88.

AON Profile

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.