SVB Wealth LLC Sells 54 Shares of Aon plc (NYSE:AON)

SVB Wealth LLC reduced its position in Aon plc (NYSE:AON) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,505 shares of the financial services provider’s stock after selling 54 shares during the quarter. SVB Wealth LLC’s holdings in AON were worth $836,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AON. BOKF NA lifted its position in shares of AON by 2.7% during the 1st quarter. BOKF NA now owns 5,508 shares of the financial services provider’s stock valued at $1,815,000 after acquiring an additional 147 shares during the period. LRI Investments LLC acquired a new position in shares of AON during the 1st quarter valued at $55,000. Quadrature Capital Ltd acquired a new position in shares of AON during the 1st quarter valued at $1,681,000. Longview Partners Guernsey LTD lifted its position in shares of AON by 0.6% during the 1st quarter. Longview Partners Guernsey LTD now owns 1,719,104 shares of the financial services provider’s stock valued at $573,699,000 after acquiring an additional 10,500 shares during the period. Finally, Capital International Ltd. CA lifted its position in shares of AON by 1.8% during the 1st quarter. Capital International Ltd. CA now owns 48,707 shares of the financial services provider’s stock valued at $16,254,000 after acquiring an additional 840 shares during the period. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AON. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $345.00 to $306.00 in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Morgan Stanley lowered their price objective on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Finally, Citigroup began coverage on AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 target price on the stock. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, AON presently has an average rating of “Hold” and a consensus target price of $325.36.

Insider Buying and Selling at AON

In other news, Director Lester B. Knight purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now owns 139,000 shares of the company’s stock, valued at $38,448,790. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.15% of the company’s stock.

AON Stock Performance

Shares of NYSE:AON traded down $3.58 during midday trading on Monday, reaching $319.42. The company had a trading volume of 1,756,981 shares, compared to its average volume of 1,302,061. The stock has a market cap of $69.45 billion, a P/E ratio of 25.08, a P/E/G ratio of 2.16 and a beta of 0.91. The company’s 50 day moving average price is $292.59 and its 200 day moving average price is $302.68. The company has a current ratio of 2.42, a quick ratio of 4.13 and a debt-to-equity ratio of 2.92. Aon plc has a 52-week low of $268.06 and a 52-week high of $344.68.

AON (NYSE:AON) last released its 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 net margin of 18.00% and a return on equity of 252.81%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aon plc will post 15.37 EPS for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, August 1st. AON’s dividend payout ratio is currently 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.