Avitas Wealth Management LLC trimmed its stake in Aon PLC (NYSE:AON) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,185 shares of the financial services provider’s stock after selling 258 shares during the quarter. Avitas Wealth Management LLC’s holdings in AON were worth $1,769,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AON. Lloyd Advisory Services LLC. increased its holdings in shares of AON by 3,750.0% in the first quarter. Lloyd Advisory Services LLC. now owns 154 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. AllSquare Wealth Management LLC bought a new stake in shares of AON during the 1st quarter worth about $26,000. Magellan Asset Management Ltd acquired a new position in AON in the 1st quarter valued at about $27,000. Retirement Network acquired a new position in AON in the 1st quarter valued at about $33,000. Finally, Bay Harbor Wealth Management LLC bought a new position in AON in the 1st quarter valued at about $38,000. 84.75% of the stock is currently owned by hedge funds and other institutional investors.
In other news, President Eric Andersen sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $199.13, for a total transaction of $298,695.00. Following the sale, the president now directly owns 102,814 shares in the company, valued at $20,473,351.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lester B. Knight acquired 70,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $195.00 per share, with a total value of $13,650,000.00. The disclosure for this purchase can be found here. Insiders sold 2,850 shares of company stock worth $560,250 in the last 90 days. Company insiders own 0.92% of the company’s stock.
AON (NYSE:AON) last posted its earnings results on Friday, July 31st. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.04. AON had a net margin of 14.84% and a return on equity of 63.91%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the business earned $1.87 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Aon PLC will post 9.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, July 31st. AON’s payout ratio is 19.19%.
Several equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $200.00 target price on shares of AON in a research report on Monday, July 20th. UBS Group lowered their price objective on AON from $202.00 to $197.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Jefferies Financial Group lifted their target price on AON from $214.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Wells Fargo & Co decreased their price target on shares of AON from $232.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Finally, Cfra lowered their price target on shares of AON from $230.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $209.27.
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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