Cobblestone Capital Advisors LLC NY Cuts Stock Position in Aon plc (NYSE:AON)

Cobblestone Capital Advisors LLC NY lowered its stake in Aon plc (NYSE:AON) by 3.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 915 shares of the financial services provider’s stock after selling 36 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in AON were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Portside Wealth Group LLC grew its stake in shares of AON by 530.6% in the 1st quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider’s stock worth $4,412,000 after buying an additional 9,302 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of AON by 0.3% in the 1st quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock worth $809,544,000 after buying an additional 6,038 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of AON by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider’s stock worth $11,183,000 after buying an additional 1,489 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of AON by 425.3% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider’s stock worth $761,000 after buying an additional 1,544 shares during the last quarter. Finally, Ninety One North America Inc. grew its stake in shares of AON by 64.4% in the 1st quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider’s stock worth $2,986,000 after buying an additional 2,932 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Keefe, Bruyette & Woods cut their target price on AON from $414.00 to $409.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Piper Sandler lifted their target price on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Barclays reissued an “overweight” rating and issued a $420.00 target price (up previously from $401.00) on shares of AON in a report on Thursday, July 31st. Wells Fargo & Company reissued an “overweight” rating and issued a $438.00 target price (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. Finally, Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and lifted their target price for the stock from $400.00 to $426.00 in a report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $409.21.

AON Price Performance

NYSE AON opened at $366.39 on Monday. The business’s fifty day moving average price is $357.97 and its 200-day moving average price is $370.73. The stock has a market capitalization of $79.00 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.17 and a beta of 0.83. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97.

AON (NYSE:AON) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the firm earned $2.93 EPS. AON’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 1st. AON’s dividend payout ratio (DPR) is currently 24.96%.

About AON

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.