Banque Pictet & Cie SA grew its holdings in shares of Aon (NYSE:AON) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,160 shares of the financial services provider’s stock after purchasing an additional 1,375 shares during the period. Banque Pictet & Cie SA’s holdings in AON were worth $4,092,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Kings Point Capital Management increased its holdings in shares of AON by 4.6% during the fourth quarter. Kings Point Capital Management now owns 35,535 shares of the financial services provider’s stock valued at $4,762,000 after purchasing an additional 1,577 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of AON by 6,643.5% during the fourth quarter. Pinebridge Investments L.P. now owns 9,913 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 9,766 shares during the period. Sterling Capital Management LLC increased its holdings in shares of AON by 17.3% during the fourth quarter. Sterling Capital Management LLC now owns 9,776 shares of the financial services provider’s stock valued at $1,310,000 after purchasing an additional 1,439 shares during the period. We Are One Seven LLC acquired a new position in shares of AON during the fourth quarter valued at $1,140,000. Finally, Captrust Financial Advisors acquired a new position in shares of AON during the fourth quarter valued at $240,000. 88.62% of the stock is currently owned by institutional investors.
Shares of AON opened at $140.94 on Friday, MarketBeat Ratings reports. Aon has a fifty-two week low of $141.01 and a fifty-two week high of $142.42. The stock has a market cap of $34.42 billion, a P/E ratio of 21.62, a PEG ratio of 1.43 and a beta of 1.04. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.06.
AON (NYSE:AON) last announced its earnings results on Friday, May 4th. The financial services provider reported $2.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.15. AON had a return on equity of 39.65% and a net margin of 14.28%. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the business posted $1.45 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. sell-side analysts predict that Aon will post 8.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were given a $0.40 dividend. This is a positive change from AON’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, April 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.14%. AON’s dividend payout ratio (DPR) is 24.54%.
In related news, CFO Christa Davies sold 3,237 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $140.99, for a total value of $456,384.63. Following the completion of the transaction, the chief financial officer now owns 233,327 shares in the company, valued at approximately $32,896,773.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Neller sold 1,500 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $140.12, for a total value of $210,180.00. The disclosure for this sale can be found here. Insiders sold a total of 9,883 shares of company stock valued at $1,391,791 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.
AON has been the topic of a number of research analyst reports. Citigroup raised their price target on AON from $157.00 to $162.00 and gave the company a “buy” rating in a report on Friday, February 9th. Barclays reissued an “equal weight” rating and set a $138.00 price target (up from $135.00) on shares of AON in a report on Tuesday, February 20th. Zacks Investment Research lowered AON from a “hold” rating to a “strong sell” rating in a report on Thursday, January 18th. Goldman Sachs raised AON from a “neutral” rating to a “buy” rating and raised their target price for the company from $144.22 to $149.00 in a research note on Thursday, March 15th. Finally, ValuEngine cut AON from a “buy” rating to a “hold” rating in a research note on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. AON presently has a consensus rating of “Hold” and a consensus price target of $148.27.
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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