Seven Eight Capital LP Sells 2,365 Shares of Aon plc (NYSE:AON)

Seven Eight Capital LP lessened its holdings in Aon plc (NYSE:AON) by 36.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,151 shares of the financial services provider’s stock after selling 2,365 shares during the quarter. Seven Eight Capital LP’s holdings in AON were worth $1,219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Gryphon Financial Partners LLC grew its holdings in AON by 262.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock worth $1,181,000 after acquiring an additional 2,989 shares during the period. California State Teachers Retirement System grew its stake in shares of AON by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 331,760 shares of the financial services provider’s stock worth $96,549,000 after purchasing an additional 4,843 shares during the period. Radnor Capital Management LLC increased its holdings in AON by 203.6% in the first quarter. Radnor Capital Management LLC now owns 6,290 shares of the financial services provider’s stock valued at $2,099,000 after purchasing an additional 4,218 shares during the last quarter. Y.D. More Investments Ltd bought a new position in AON during the second quarter worth about $31,000. Finally, Norden Group LLC acquired a new position in shares of AON during the 1st quarter worth about $2,044,000. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AON shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Wells Fargo & Company boosted their price target on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a report on Monday, July 29th. Piper Sandler raised their price objective on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods raised AON from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $313.00 to $380.00 in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AON presently has a consensus rating of “Hold” and a consensus target price of $337.27.

AON Price Performance

Shares of AON opened at $346.97 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. Aon plc has a twelve month low of $268.06 and a twelve month high of $353.54. The stock has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 2.26 and a beta of 0.92. The company has a 50 day moving average of $329.77 and a 200-day moving average of $311.20.

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

AON Announces Dividend

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

About AON

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.