Intech Investment Management LLC Sells 18,846 Shares of Aon plc (NYSE:AON)

Intech Investment Management LLC reduced its position in Aon plc (NYSE:AON) by 18.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,027 shares of the financial services provider’s stock after selling 18,846 shares during the period. Intech Investment Management LLC’s holdings in AON were worth $24,669,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AON. ProVise Management Group LLC acquired a new stake in AON in the 2nd quarter worth approximately $1,499,000. Kentucky Retirement Systems boosted its stake in AON by 7.8% in the 2nd quarter. Kentucky Retirement Systems now owns 16,385 shares of the financial services provider’s stock worth $4,810,000 after purchasing an additional 1,180 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in AON by 6.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,070 shares of the financial services provider’s stock worth $4,640,000 after purchasing an additional 970 shares in the last quarter. Amalgamated Bank boosted its stake in AON by 3.5% in the 2nd quarter. Amalgamated Bank now owns 42,672 shares of the financial services provider’s stock worth $12,528,000 after purchasing an additional 1,456 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in AON by 11.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,850 shares of the financial services provider’s stock worth $1,130,000 after purchasing an additional 407 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

AON Price Performance

Shares of NYSE AON opened at $346.97 on Friday. The firm has a market cap of $75.38 billion, a PE ratio of 27.19, a PEG ratio of 2.26 and a beta of 0.92. The firm has a fifty day moving average of $329.77 and a 200 day moving average of $311.20. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. Aon plc has a one year low of $268.06 and a one year high of $353.54.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.15). The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. AON’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.76 EPS. As a group, research analysts predict that Aon plc will post 15.23 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 0.78%. The ex-dividend date was Thursday, August 1st. AON’s payout ratio is presently 21.16%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler lifted their target price on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Morgan Stanley decreased their price objective on shares of AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Royal Bank of Canada restated a “sector perform” rating and set a $335.00 price objective on shares of AON in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their price objective on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $337.27.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.