Daiwa Securities Group Inc. reduced its position in Aon PLC (NYSE:AON) by 7.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 49,090 shares of the financial services provider’s stock after selling 3,793 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AON were worth $7,135,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division bought a new position in shares of AON in the fourth quarter valued at approximately $49,000. Legacy Financial Advisors Inc. raised its stake in AON by 65.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 391 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 154 shares in the last quarter. CWM LLC raised its stake in AON by 28.5% in the fourth quarter. CWM LLC now owns 469 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 104 shares in the last quarter. Exane Asset Management purchased a new stake in AON in the fourth quarter valued at approximately $77,000. Finally, Synovus Financial Corp raised its stake in AON by 110.4% in the third quarter. Synovus Financial Corp now owns 852 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 447 shares in the last quarter. Institutional investors own 86.58% of the company’s stock.
A number of brokerages recently weighed in on AON. Wells Fargo & Co raised their target price on shares of AON from $165.00 to $150.00 and gave the company a “market perform” rating in a research note on Tuesday, November 13th. Zacks Investment Research raised shares of AON from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a research note on Monday, December 31st. Barclays raised their target price on shares of AON from $138.00 to $153.00 and gave the company an “equal weight” rating in a research note on Monday, November 12th. Sandler O’Neill raised shares of AON from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. Finally, Goldman Sachs Group downgraded shares of AON from a “buy” rating to a “neutral” rating and lowered their target price for the company from $171.00 to $163.00 in a research note on Tuesday, January 8th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. AON has an average rating of “Hold” and an average price target of $169.10.
AON stock opened at $170.76 on Tuesday. The company has a market cap of $40.50 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. Aon PLC has a one year low of $134.82 and a one year high of $170.82. The company has a current ratio of 1.64, a quick ratio of 1.41 and a debt-to-equity ratio of 1.42.
AON (NYSE:AON) last posted its quarterly earnings results on Friday, February 1st. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $2.13 by $0.03. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.82 billion. AON had a net margin of 10.53% and a return on equity of 43.49%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share. On average, analysts anticipate that Aon PLC will post 9.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, January 31st. AON’s dividend payout ratio (DPR) is presently 19.61%.
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Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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