Corebridge Financial Inc. Reduces Stock Holdings in Aon plc (NYSE:AON)

Corebridge Financial Inc. lowered its holdings in shares of Aon plc (NYSE:AON) by 7.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 54,363 shares of the financial services provider’s stock after selling 4,469 shares during the quarter. Corebridge Financial Inc.’s holdings in AON were worth $19,525,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AON by 334.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,050,537 shares of the financial services provider’s stock worth $363,475,000 after acquiring an additional 808,990 shares during the period. Proficio Capital Partners LLC raised its holdings in AON by 43,000.8% in the 4th quarter. Proficio Capital Partners LLC now owns 390,924 shares of the financial services provider’s stock worth $140,404,000 after purchasing an additional 390,017 shares during the period. Bank of New York Mellon Corp grew its holdings in AON by 15.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,564,824 shares of the financial services provider’s stock valued at $921,182,000 after purchasing an additional 343,592 shares during the period. Diamond Hill Capital Management Inc. increased its position in AON by 28.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,247,736 shares of the financial services provider’s stock worth $448,137,000 after buying an additional 275,525 shares in the last quarter. Finally, Boston Partners raised its stake in shares of AON by 13.7% in the fourth quarter. Boston Partners now owns 2,035,998 shares of the financial services provider’s stock worth $731,799,000 after buying an additional 244,706 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Stock Performance

NYSE:AON opened at $393.28 on Tuesday. The company has a market cap of $84.95 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.12 and a beta of 0.92. Aon plc has a 1 year low of $268.06 and a 1 year high of $412.97. The stock’s 50 day simple moving average is $386.18 and its two-hundred day simple moving average is $371.05. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.40 and a quick ratio of 1.40.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.25 by $0.17. AON had a net margin of 16.91% and a return on equity of 70.84%. During the same period in the previous year, the firm earned $3.89 EPS. As a group, equities analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.675 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.70 annualized dividend and a yield of 0.69%. AON’s dividend payout ratio is currently 21.33%.

Analyst Ratings Changes

AON has been the subject of several analyst reports. Royal Bank of Canada increased their target price on shares of AON from $390.00 to $400.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Piper Sandler raised their price objective on shares of AON from $372.00 to $384.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of AON from $411.00 to $414.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Evercore ISI raised AON from an “in-line” rating to an “outperform” rating and raised their price target for the company from $407.00 to $420.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their target price on AON from $410.00 to $445.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $386.21.

AON Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.