Mitsubishi UFJ Asset Management Co. Ltd. Sells 883,462 Shares of Aon plc $AON

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its stake in shares of Aon plc (NYSE:AON) by 32.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,823,442 shares of the financial services provider’s stock after selling 883,462 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in AON were worth $650,203,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC boosted its position in shares of AON by 12.1% in the second quarter. Ashton Thomas Private Wealth LLC now owns 1,376 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 148 shares during the period. Bessemer Group Inc. boosted its holdings in AON by 9.6% in the 2nd quarter. Bessemer Group Inc. now owns 11,258 shares of the financial services provider’s stock valued at $4,016,000 after purchasing an additional 985 shares during the period. Rossby Financial LCC increased its holdings in shares of AON by 9.1% in the second quarter. Rossby Financial LCC now owns 406 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 34 shares during the period. Howard Capital Management Inc. raised its position in shares of AON by 12.5% in the second quarter. Howard Capital Management Inc. now owns 1,214 shares of the financial services provider’s stock worth $433,000 after buying an additional 135 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in AON by 1.5% during the second quarter. New York Life Investment Management LLC now owns 29,337 shares of the financial services provider’s stock valued at $10,466,000 after buying an additional 444 shares during the period. Institutional investors own 86.14% of the company’s stock.

AON Price Performance

Shares of NYSE:AON opened at $324.90 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.55. The stock has a market cap of $69.61 billion, a PE ratio of 19.09, a PEG ratio of 1.68 and a beta of 0.83. The company’s fifty day moving average is $340.03 and its 200 day moving average is $349.68. Aon plc has a 52 week low of $304.59 and a 52 week high of $412.97.

AON (NYSE:AON) last announced its quarterly earnings data on Friday, January 30th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $0.10. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.38 billion. AON had a return on equity of 45.23% and a net margin of 21.51%.The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $4.42 earnings per share. Research analysts anticipate that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, February 2nd. AON’s dividend payout ratio is 17.51%.

Analyst Ratings Changes

AON has been the topic of several recent analyst reports. Morgan Stanley set a $400.00 price target on AON in a report on Tuesday, December 16th. The Goldman Sachs Group set a $395.00 target price on shares of AON in a research note on Wednesday, January 7th. Roth Mkm reissued a “buy” rating and issued a $390.00 price target on shares of AON in a report on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $408.00 target price on shares of AON in a research report on Monday, February 2nd. Finally, Mizuho set a $398.00 price target on AON in a research note on Tuesday, February 3rd. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AON presently has an average rating of “Moderate Buy” and a consensus price target of $409.75.

Insider Activity at AON

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

About AON

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.