Acadian Asset Management LLC sells 24,776 shares of Aon plc (NYSE:AON)

Acadian Asset Management LLC lessened its holdings in Aon plc (NYSE:AON – Free Report) by 82.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,317 shares of the financial services provider’s stock after selling 24,776 shares during the quarter. Acadian Asset Management LLC’s holdings in AON were worth $1,559,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Frazier Financial Advisors LLC bought a new position in AON in the 4th quarter valued at about $31,000. Rise Advisors LLC purchased a new stake in AON in the 1st quarter worth about $37,000. Bruce G. Allen Investments LLC boosted its holdings in AON by 52.7% during the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock worth $49,000 after buying an additional 58 shares during the period. LRI Investments LLC purchased a new stake in shares of AON in the first quarter valued at about $55,000. Finally, New Covenant Trust Company NA purchased a new stake in shares of AON in the first quarter valued at about $59,000. Institutional investors own 86.14% of the company’s shares.

AON stock performance

Shares of AON stock opened at $347.85 on Friday. The company has a market cap of $75.57 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The company has a current ratio of 2.42, a quick ratio of 2.42, and a debt-to-equity ratio of 2.92. Aon plc has a 12-month low of $268.06 and a 12-month high of $352.49. The stock has a 50-day moving average price of $325.51 and a 200-day moving average price of $310.25.

AON (NYSE:AON – Get Your Free Report ) last announced its quarterly earnings data 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 analysts’ expectations of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The company’s quarterly revenue was up 18.4% year over year. In the same period last year, the company posted earnings of $2.76 per share. As a group, equities 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 given a dividend of $0.675 per share. The ex-dividend date was Thursday, August 1. This represents an annualized dividend of $2.70 and a dividend yield of 0.78%. AON’s dividend payout ratio (DPR) is currently 21.16%.

Analyst upgrades and downgrades

A number of equities analysts recently weighed in on AON shares. Royal Bank of Canada restated a “sector perform” rating and set a $335.00 target price on shares of AON in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Wells Fargo & Company raised their price objective on shares of AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Citigroup assumed coverage on shares of AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price objective for the company. Finally, Bank of America downgraded AON from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $345.00 to $306.00 in a research note from Wednesday, May 22. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, AON has an average rating of “Hold” and a consensus price target of $337.27.

Read our latest analysis of AON

AON profile

(Free Report)

Aon plc, a professional services firm, provides a range of global risk and human capital solutions. Provides commercial risk solutions including retail brokerage, specialist solutions, global risk consulting and captive management and affinity programs; and health solutions such as health brokers and health care benefits and exchanges.

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