Hsbc Holdings PLC Sells 100,590 Shares of Aon plc (NYSE:AON)

Hsbc Holdings PLC trimmed its holdings in shares of Aon plc (NYSE:AON) by 87.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,635 shares of the financial services provider’s stock after selling 100,590 shares during the quarter. Hsbc Holdings PLC’s holdings in AON were worth $4,292,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AON. Y.D. More Investments Ltd bought a new stake in shares of AON in the 2nd quarter valued at $31,000. Rise Advisors LLC bought a new stake in shares of AON in the 1st quarter valued at $37,000. Bruce G. Allen Investments LLC boosted its stake in shares of AON by 52.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 58 shares during the last quarter. LRI Investments LLC bought a new stake in shares of AON in the 1st quarter valued at $55,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of AON in the 1st quarter valued at $59,000. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

Shares of AON stock opened at $347.43 on Wednesday. The firm has a 50-day moving average of $332.77 and a 200-day moving average of $311.79. The company has a market cap of $75.54 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.26 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick 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 announced its 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 firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 EPS. Equities research analysts forecast that Aon plc will post 15.23 EPS for the current fiscal year.

AON Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped 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. Barclays assumed coverage on shares of AON in a research note on Wednesday, September 4th. They set an “overweight” rating and a $394.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price 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. Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $313.00 to $380.00 in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price on shares of AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, AON currently has an average rating of “Hold” and a consensus price target 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.