NewEdge Wealth LLC Sells 10,684 Shares of Aon plc $AON

NewEdge Wealth LLC reduced its stake in Aon plc (NYSE:AON) by 63.6% during the 1st quarter, Holdings Channel reports. The fund owned 6,123 shares of the financial services provider’s stock after selling 10,684 shares during the period. NewEdge Wealth LLC’s holdings in AON were worth $1,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in AON. Vanguard Group Inc. grew its position in shares of AON by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider’s stock valued at $7,117,960,000 after purchasing an additional 191,658 shares during the last quarter. Capital World Investors boosted its stake in AON by 1.5% in the 4th quarter. Capital World Investors now owns 12,252,904 shares of the financial services provider’s stock valued at $4,323,850,000 after purchasing an additional 176,207 shares during the period. State Street Corp grew its holdings in AON by 1.2% in the 3rd quarter. State Street Corp now owns 9,229,464 shares of the financial services provider’s stock valued at $3,291,048,000 after buying an additional 105,154 shares in the last quarter. Dodge & Cox increased its position in AON by 126.6% during the 4th quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock worth $2,770,975,000 after buying an additional 4,387,773 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of AON by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 5,141,363 shares of the financial services provider’s stock worth $1,810,726,000 after buying an additional 28,066 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

AON has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price target on shares of AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. UBS Group boosted their price objective on shares of AON from $360.00 to $383.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Citigroup increased their target price on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods dropped their price target on shares of AON from $404.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Finally, Morgan Stanley boosted their price target on AON from $370.00 to $380.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.56.

AON Stock Up 1.5%

Shares of NYSE AON opened at $361.26 on Friday. The stock has a market capitalization of $77.16 billion, a P/E ratio of 19.83, a PEG ratio of 1.89 and a beta of 0.71. The stock’s fifty day moving average is $336.57 and its 200 day moving average is $331.38. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00. 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 announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the prior year, the company posted $5.67 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts forecast that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.82 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio (DPR) is currently 18.00%.

Insider Transactions at AON

In other AON news, General Counsel Darren Zeidel sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the transaction, the general counsel directly owned 15,354 shares in the company, valued at $5,527,440. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

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.