Mitsubishi UFJ Asset Management Co. Ltd. Sells 10,554 Shares of Aon plc $AON

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in Aon plc (NYSE:AON) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,812,888 shares of the financial services provider’s stock after selling 10,554 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in AON were worth $624,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of AON by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider’s stock worth $7,117,960,000 after buying an additional 191,658 shares in the last quarter. State Street Corp lifted its stake in AON by 1.2% in the third quarter. State Street Corp now owns 9,229,464 shares of the financial services provider’s stock worth $3,291,048,000 after acquiring an additional 105,154 shares during the period. Bank of New York Mellon Corp grew its holdings in AON by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,715,346 shares of the financial services provider’s stock worth $1,324,818,000 after acquiring an additional 207,690 shares in the last quarter. Dodge & Cox purchased a new position in AON during the 3rd quarter valued at about $1,235,437,000. Finally, Neuberger Berman Group LLC raised its holdings in shares of AON by 12.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,330,363 shares of the financial services provider’s stock valued at $830,945,000 after purchasing an additional 249,549 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

AON Trading Down 0.1%

Shares of AON stock opened at $314.52 on Wednesday. The firm’s 50 day simple moving average is $325.19 and its two-hundred day simple moving average is $336.84. The firm has a market capitalization of $67.17 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.67 and a beta of 0.72. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The company has a current ratio of 1.95, a quick ratio of 2.03 and a debt-to-equity ratio of 1.36.

AON (NYSE:AON) last issued its earnings results on Friday, May 1st. 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 return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the business posted $5.67 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts predict that Aon plc will post 19.02 EPS for the current year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. This is a boost from AON’s previous quarterly dividend of $0.75. AON’s payout ratio is 16.36%.

Insider Activity at AON

In other news, General Counsel Darren Zeidel sold 5,040 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total value of $1,641,981.60. Following the sale, the general counsel owned 20,254 shares in the company, valued at $6,598,550.66. This represents a 19.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lester B. Knight bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the acquisition, the director owned 143,000 shares of the company’s stock, valued at $45,651,320. This trade represents a 2.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

AON has been the topic of several research reports. Evercore reissued an “outperform” rating and set a $436.00 price objective on shares of AON in a report on Wednesday, January 7th. TD Cowen reaffirmed a “buy” rating on shares of AON in a research report on Monday, March 16th. JPMorgan Chase & Co. reduced their price target on AON from $406.00 to $396.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wells Fargo & Company decreased their price objective on AON from $443.00 to $402.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Citigroup raised their price objective on AON from $402.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $397.88.

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.