Miracle Mile Advisors LLC Lowers Holdings in Aon plc (NYSE:AON)

Miracle Mile Advisors LLC cut its stake in Aon plc (NYSE:AON) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,361 shares of the financial services provider’s stock after selling 140 shares during the period. Miracle Mile Advisors LLC’s holdings in AON were worth $817,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Y.D. More Investments Ltd acquired a new stake in AON during the second quarter worth about $31,000. Rise Advisors LLC purchased a new position in AON in the first quarter valued at approximately $37,000. Nemes Rush Group LLC acquired a new position in AON during the second quarter valued at approximately $45,000. LRI Investments LLC purchased a new stake in AON during the first quarter worth approximately $55,000. Finally, Bruce G. Allen Investments LLC raised 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 acquiring an additional 58 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AON has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Piper Sandler raised their target price on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price target on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AON from $311.00 to $353.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company upped their target price on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $337.14.

AON Price Performance

Shares of AON opened at $353.95 on Wednesday. Aon plc has a 12 month low of $268.06 and a 12 month high of $355.15. 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 stock has a fifty day moving average price of $340.60 and a 200 day moving average price of $313.42. The company has a market cap of $76.89 billion, a P/E ratio of 27.74, a PEG ratio of 2.24 and a beta of 0.92.

AON (NYSE:AON) last posted 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). 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 prior year, the business earned $2.76 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year. On average, research analysts forecast that Aon plc will post 15.22 earnings per share for the current year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid 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 0.76%. AON’s payout ratio is 21.16%.

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.