USS Investment Management Ltd Lowers Stake in Aon plc $AON

USS Investment Management Ltd lessened its stake in shares of Aon plc (NYSE:AON) by 26.3% during the 1st quarter, Holdings Channel reports. The fund owned 502,480 shares of the financial services provider’s stock after selling 179,263 shares during the period. AON comprises approximately 0.7% of USS Investment Management Ltd’s holdings, making the stock its 24th largest position. USS Investment Management Ltd’s holdings in AON were worth $162,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wealth Watch Advisors INC purchased a new stake in shares of AON during the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in AON in the fourth quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new position in AON in the fourth quarter valued at about $29,000. Eagle Bay Advisors LLC bought a new position in AON in the fourth quarter worth about $30,000. Finally, Strive Asset Management LLC purchased a new stake in shares of AON during the third quarter valued at about $35,000. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

AON opened at $332.03 on Wednesday. The company has a market cap of $70.91 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.72 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $322.36 and its 200-day moving average price is $330.60. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00.

AON (NYSE:AON) last released its 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. AON had a net margin of 22.54% and a return on equity of 43.50%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period last year, the business earned $5.67 EPS. AON’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts anticipate that Aon plc will post 19.09 EPS for the current fiscal year.

AON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost 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

A number of research firms have recently weighed in on AON. Mizuho lowered their price target on shares of AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a research report on Tuesday, April 21st. Wells Fargo & Company lowered their target price on shares of AON from $443.00 to $402.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. JPMorgan Chase & Co. cut their price target on shares of AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Piper Sandler decreased their price objective on AON from $360.00 to $355.00 and set an “overweight” rating for the company in a report on Monday, June 15th. Thirteen 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, the company currently has an average rating of “Moderate Buy” and an average 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.