Cornerstone Advisory LLC Trims Position in Aon plc (NYSE:AON)

by · The Cerbat Gem

Cornerstone Advisory LLC cut its holdings in shares of Aon plc (NYSE:AON – Free Report) by 5.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 603 shares of the financial services provider’s stock after selling 36 shares during the quarter. Cornerstone Advisory LLC’s holdings in AON were worth $241,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in AON by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,949,919 shares of the financial services provider’s stock worth $1,773,165,000 after purchasing an additional 627,742 shares during the period. Bank of New York Mellon Corp grew its stake in AON by 18.3% in the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider’s stock worth $1,210,864,000 after purchasing an additional 469,238 shares during the period. Northern Trust Corp grew its stake in AON by 9.3% in the fourth quarter. Northern Trust Corp now owns 2,158,943 shares of the financial services provider’s stock worth $775,406,000 after purchasing an additional 183,442 shares during the period. Neuberger Berman Group LLC grew its stake in AON by 4.2% in the fourth quarter. Neuberger Berman Group LLC now owns 2,123,862 shares of the financial services provider’s stock worth $762,796,000 after purchasing an additional 86,148 shares during the period. Finally, WCM Investment Management LLC grew its stake in AON by 0.3% in the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock worth $809,544,000 after purchasing an additional 6,038 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Trading Up 4.5%

Shares of NYSE:AON opened at $372.71 on Monday. The company has a market cap of $80.48 billion, a P/E ratio of 31.22, a PEG ratio of 2.22 and a beta of 0.84. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.73. Aon plc has a 1 year low of $304.12 and a 1 year high of $412.97. The stock’s fifty day moving average price is $358.28 and its 200-day moving average price is $370.90.

AON (NYSE:AON – Get Free Report) last posted its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the company earned $2.93 earnings per share. AON’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts expect that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, August 1st. AON’s dividend payout ratio is 24.96%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on AON from $396.00 to $416.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. The Goldman Sachs Group raised AON from a “neutral” rating to a “buy” rating and set a $408.00 target price on the stock in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods cut their target price on AON from $414.00 to $409.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Barclays cut their target price on AON from $415.00 to $401.00 and set an “overweight” rating on the stock in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. increased their target price on AON from $394.00 to $409.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $403.00.

Get Our Latest Research Report on AON

About AON

(Free Report)

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.

See Also

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