Factor Wealth Management LTD Trims Holdings in Aon plc $AON

Factor Wealth Management LTD decreased its holdings in shares of Aon plc (NYSE:AON) by 44.4% in the first quarter, HoldingsChannel reports. The firm owned 2,324 shares of the financial services provider’s stock after selling 1,855 shares during the quarter. Factor Wealth Management LTD’s holdings in AON were worth $750,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Dodge & Cox increased its stake in shares of AON by 126.6% during the fourth quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock valued at $2,770,975,000 after buying an additional 4,387,773 shares during the period. Norges Bank purchased a new position in AON during the 4th quarter valued at $1,155,981,000. Viking Global Investors LP bought a new position in AON in the 3rd quarter worth $504,424,000. Balyasny Asset Management L.P. lifted its position in shares of AON by 40,219.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock worth $301,922,000 after purchasing an additional 844,615 shares during the period. Finally, Southpoint Capital Advisors LP bought a new stake in shares of AON during the 4th quarter valued at about $229,372,000. 86.14% of the stock is currently owned by institutional investors.

AON Price Performance

Shares of NYSE AON opened at $325.74 on Thursday. The company has a 50 day simple moving average of $322.65 and a two-hundred day simple moving average of $331.09. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The company has a market capitalization of $69.57 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 1.69 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95.

AON (NYSE:AON) last issued its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.67 EPS. Analysts expect that Aon plc will post 19.09 EPS for the current fiscal year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. This is a positive change from AON’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, May 1st. AON’s dividend payout ratio is presently 18.00%.

Analyst Upgrades and Downgrades

AON has been the topic of several research analyst reports. UBS Group reduced their price target on shares of AON from $385.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Citigroup lifted their price objective on AON from $412.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Bank of America raised AON from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $398.00 to $397.00 in a research report on Friday, February 27th. Mizuho lowered their target price on AON from $394.00 to $389.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company reduced their price target on AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, AON presently has a consensus rating of “Moderate Buy” and a consensus price target of $394.94.

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.