Public Employees Retirement System of Ohio Has $33.65 Million Position in Aon plc (NYSE:AON)

Public Employees Retirement System of Ohio cut its stake in Aon plc (NYSE:AON) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,819 shares of the financial services provider’s stock after selling 8,165 shares during the period. Public Employees Retirement System of Ohio’s holdings in AON were worth $33,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AON. Procyon Advisors LLC raised its holdings in AON by 55.2% in the 4th quarter. Procyon Advisors LLC now owns 1,684 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 599 shares in the last quarter. Blue Trust Inc. increased its stake in shares of AON by 20.7% in the 4th quarter. Blue Trust Inc. now owns 543 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 93 shares during the last quarter. Oak Thistle LLC bought a new position in shares of AON in the 4th quarter valued at $3,203,000. Trust Co. of Oklahoma increased its stake in shares of AON by 6.8% in the 4th quarter. Trust Co. of Oklahoma now owns 1,042 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 66 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of AON by 2.8% in the 4th quarter. DAVENPORT & Co LLC now owns 275,043 shares of the financial services provider’s stock valued at $79,880,000 after purchasing an additional 7,382 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup assumed coverage on AON in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Morgan Stanley reduced their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $311.00 price target on shares of AON in a research report on Tuesday, May 28th. Finally, Keefe, Bruyette & Woods upped their price target on AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, AON currently has a consensus rating of “Hold” and a consensus target price of $325.36.

AON Stock Down 0.9 %

AON stock traded down $2.83 during trading on Monday, reaching $320.17. 856,482 shares of the stock were exchanged, compared to its average volume of 1,295,807. The firm’s 50 day moving average is $292.59 and its 200 day moving average is $302.68. Aon plc has a twelve month low of $268.06 and a twelve month high of $344.68. The company has a current ratio of 2.42, a quick ratio of 4.13 and a debt-to-equity ratio of 2.92. The firm has a market cap of $69.61 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

AON (NYSE:AON) last posted its quarterly earnings results 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). AON had a return on equity of 252.81% and a net margin of 18.00%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the company posted $2.76 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, research analysts forecast that Aon plc will post 15.37 EPS for the current year.

AON Dividend Announcement

The business 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 $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, August 1st. AON’s dividend payout ratio (DPR) is presently 21.16%.

Insider Transactions at AON

In other AON news, Director Lester B. Knight bought 10,000 shares of AON stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the acquisition, the director now directly owns 139,000 shares in the company, valued at approximately $38,448,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.15% of the company’s stock.

About AON

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.