Xponance Inc. Sells 6,401 Shares of Aon plc (NYSE:AON)

Xponance Inc. cut its holdings in shares of Aon plc (NYSE:AON) by 15.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,782 shares of the financial services provider’s stock after selling 6,401 shares during the quarter. Xponance Inc.’s holdings in AON were worth $10,505,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Proficio Capital Partners LLC boosted its holdings in AON by 3.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,016 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 38 shares during the period. Avantax Advisory Services Inc. raised its position in shares of AON by 5.5% during the first quarter. Avantax Advisory Services Inc. now owns 729 shares of the financial services provider’s stock valued at $243,000 after buying an additional 38 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of AON by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,724 shares of the financial services provider’s stock valued at $502,000 after buying an additional 39 shares during the period. Essex Financial Services Inc. grew its position in AON by 4.0% during the second quarter. Essex Financial Services Inc. now owns 1,036 shares of the financial services provider’s stock worth $304,000 after buying an additional 40 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of AON by 11.1% during the first quarter. GAMMA Investing LLC now owns 410 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 41 shares during the period. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AON. Wells Fargo & Company lifted their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $335.00 target price on shares of AON in a research note on Monday, August 5th. Morgan Stanley decreased their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Keefe, Bruyette & Woods raised 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 report on Tuesday, July 30th. Finally, Piper Sandler increased 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $337.27.

AON Stock Performance

Shares of AON stock opened at $348.52 on Tuesday. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a 50 day simple moving average of $331.77 and a 200 day simple moving average of $311.58. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $353.54. The firm has a market cap of $75.78 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.26 and a beta of 0.92.

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

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 1st. 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.