Violich Capital Management Inc. trimmed its stake in shares of Aon PLC (NYSE:AON) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 24,920 shares of the financial services provider’s stock after selling 75 shares during the quarter. AON accounts for approximately 1.2% of Violich Capital Management Inc.’s portfolio, making the stock its 25th largest position. Violich Capital Management Inc.’s holdings in AON were worth $4,809,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. NEXT Financial Group Inc purchased a new position in AON during the second quarter valued at $25,000. Somerset Trust Co grew its holdings in shares of AON by 171.8% in the first quarter. Somerset Trust Co now owns 212 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 134 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of AON by 54.4% in the second quarter. AdvisorNet Financial Inc now owns 210 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 74 shares during the period. Berman Capital Advisors LLC grew its holdings in shares of AON by 39.0% in the first quarter. Berman Capital Advisors LLC now owns 246 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 69 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of AON in the first quarter worth $66,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.
In other AON news, insider Eric Andersen sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.50, for a total transaction of $1,338,750.00. Following the sale, the insider now directly owns 80,941 shares in the company, valued at $14,447,968.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Peter M. Lieb sold 11,645 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $180.69, for a total value of $2,104,135.05. Following the sale, the general counsel now owns 4,408 shares in the company, valued at $796,481.52. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.
AON (NYSE:AON) last posted its earnings results on Friday, July 26th. The financial services provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.01). The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.69 billion. AON had a return on equity of 48.75% and a net margin of 13.14%. AON’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. As a group, equities research analysts anticipate that Aon PLC will post 9.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.93%. AON’s dividend payout ratio is currently 21.57%.
Several research firms have issued reports on AON. Atlantic Securities lowered AON from an “overweight” rating to a “neutral” rating and set a $190.00 price target for the company. in a report on Friday, June 14th. Morgan Stanley boosted their price target on AON from $197.00 to $200.00 and gave the company an “equal weight” rating in a report on Monday. Wells Fargo & Co reissued a “hold” rating and set a $195.00 price target on shares of AON in a report on Friday, July 26th. UBS Group boosted their price target on AON from $181.00 to $196.00 and gave the company a “neutral” rating in a report on Monday. Finally, Barclays upped their price objective on AON from $155.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 22nd. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $185.91.
AON Company Profile
Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
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