Aon plc (NYSE:AON) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of Aon plc (NYSE:AON) by 64.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,001 shares of the financial services provider’s stock after selling 143,700 shares during the quarter. Renaissance Technologies LLC’s holdings in AON were worth $22,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AON. Frazier Financial Advisors LLC acquired a new stake in AON during the 4th quarter worth $31,000. Y.D. More Investments Ltd acquired a new stake in shares of AON during the second quarter worth about $31,000. Rise Advisors LLC purchased a new stake in shares of AON in the 1st quarter valued at about $37,000. Bruce G. Allen Investments LLC grew its stake in AON by 52.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock worth $49,000 after buying an additional 58 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in AON during the first quarter worth approximately $55,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AON shares. Deutsche Bank Aktiengesellschaft increased their price objective on AON from $311.00 to $353.00 and gave the company a “hold” rating in a report on Monday, August 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $335.00 price objective on shares of AON in a research report on Monday, August 5th. Piper Sandler upped their target price on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Morgan Stanley lowered their price target on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Wells Fargo & Company increased their price objective on AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, AON currently has a consensus rating of “Hold” and an average target price of $337.27.

AON Price Performance

AON stock opened at $347.03 on Friday. The company has a market cap of $75.46 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. Aon plc has a one year low of $268.06 and a one year high of $353.54. The business has a fifty day moving average of $330.75 and a two-hundred day moving average of $311.42. 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 (NYSE:AON) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the prior year, the firm posted $2.76 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, analysts predict that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Dividend Announcement

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