Kentucky Retirement Systems Insurance Trust Fund Sells 526 Shares of Aon plc (NYSE:AON)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of Aon plc (NYSE:AON) by 7.4% in the 1st quarter, Holdings Channel reports. The firm owned 6,607 shares of the financial services provider’s stock after selling 526 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AON were worth $2,205,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AON. Frazier Financial Advisors LLC bought a new position in AON during the fourth quarter valued at approximately $31,000. Rise Advisors LLC purchased a new position in shares of AON in the 1st quarter worth $37,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of AON in the 4th quarter worth about $43,000. First United Bank & Trust purchased a new stake in shares of AON during the 4th quarter valued at about $44,000. Finally, LRI Investments LLC purchased a new position in AON in the first quarter worth about $55,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AON. Citigroup started coverage on AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of AON in a research report on Tuesday, June 18th. Piper Sandler cut their price objective on shares of AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Morgan Stanley lowered their target price on shares of AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $321.36.

Insider Buying and Selling at AON

In other news, Director Lester B. Knight purchased 10,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $276.61 per share, for a total transaction of $2,766,100.00. Following the acquisition, the director now owns 139,000 shares of the company’s stock, valued at $38,448,790. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.15% of the stock is owned by insiders.

AON Stock Performance

NYSE AON traded up $24.05 on Friday, reaching $323.00. 3,070,450 shares of the stock traded hands, compared to its average volume of 1,061,628. Aon plc has a 12 month low of $268.06 and a 12 month high of $344.68. The company has a market cap of $70.23 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.15 and a beta of 0.91. The company has a fifty day moving average price of $292.59 and a 200-day moving average price of $302.65.

AON (NYSE:AON) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.16). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The business’s revenue was up 18.4% compared to the same quarter last year. As a group, research analysts anticipate that Aon plc will post 15.37 earnings per share for the current fiscal year.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.675 per share. The ex-dividend date is Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.84%. AON’s dividend payout ratio is presently 21.16%.

AON 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.