Legacy Financial Advisors Inc. Sells 38 Shares of Aon plc (NYSE:AON)

Legacy Financial Advisors Inc. lowered its stake in Aon plc (NYSE:AON) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 914 shares of the financial services provider’s stock after selling 38 shares during the period. Legacy Financial Advisors Inc.’s holdings in AON were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. RiverGlades Family Offices LLC boosted its holdings in shares of AON by 6.5% during the 2nd quarter. RiverGlades Family Offices LLC now owns 900 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 55 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of AON by 10,293.9% during the second quarter. Summit Trail Advisors LLC now owns 225,131 shares of the financial services provider’s stock valued at $66,094,000 after purchasing an additional 222,965 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of AON by 4.4% during the second quarter. Thrivent Financial for Lutherans now owns 11,285 shares of the financial services provider’s stock worth $3,313,000 after purchasing an additional 480 shares during the last quarter. Sei Investments Co. increased its stake in shares of AON by 3.8% in the second quarter. Sei Investments Co. now owns 235,263 shares of the financial services provider’s stock valued at $69,068,000 after buying an additional 8,647 shares during the period. Finally, AE Wealth Management LLC raised its holdings in AON by 21.8% in the 2nd quarter. AE Wealth Management LLC now owns 1,553 shares of the financial services provider’s stock valued at $456,000 after buying an additional 278 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

AON Price Performance

AON stock opened at $347.03 on Friday. The stock’s 50 day moving average price is $330.75 and its two-hundred day moving average price is $311.39. The stock has a market capitalization of $75.46 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.26 and a beta of 0.92. 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 52-week low of $268.06 and a 52-week high of $353.54.

AON (NYSE:AON) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the previous year, the business posted $2.76 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts predict that Aon plc will post 15.23 earnings per share for the current year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 dividend yield of 0.78%. AON’s dividend payout ratio is 21.16%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AON shares. Piper Sandler upped their price target on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $335.00 price objective on shares of AON in a report on Monday, August 5th. Keefe, Bruyette & Woods raised AON from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $313.00 to $380.00 in a report on Tuesday, July 30th. Barclays assumed coverage on AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Finally, Morgan Stanley cut their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Two investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $337.27.

AON 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.