State of Alaska Department of Revenue Sells 575 Shares of Aon plc (NYSE:AON)

State of Alaska Department of Revenue lowered its stake in Aon plc (NYSE:AON) by 2.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,660 shares of the financial services provider’s stock after selling 575 shares during the period. State of Alaska Department of Revenue’s holdings in AON were worth $8,856,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. bought a new position in shares of AON during the third quarter worth approximately $336,375,000. Veritas Asset Management LLP grew its holdings in AON by 41.6% in the 3rd quarter. Veritas Asset Management LLP now owns 3,010,557 shares of the financial services provider’s stock valued at $1,041,623,000 after buying an additional 883,761 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AON by 334.9% during 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 buying an additional 808,990 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of AON in the third quarter valued at about $906,040,000. Finally, Accredited Investors Inc. increased its position in AON by 5,694.5% during the third quarter. Accredited Investors Inc. now owns 242,442 shares of the financial services provider’s stock worth $83,883,000 after acquiring an additional 238,258 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on AON shares. Evercore ISI raised shares of AON from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $407.00 to $420.00 in a report on Wednesday, January 8th. Royal Bank of Canada increased their price target on AON from $390.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on AON from $379.00 to $394.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Piper Sandler increased their target price on AON from $372.00 to $384.00 and gave the stock a “neutral” rating in a report on Monday. Finally, BMO Capital Markets boosted their price target on AON from $325.00 to $380.00 and gave the company a “market perform” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $386.21.

AON Stock Up 0.6 %

Shares of NYSE AON opened at $384.67 on Friday. The stock has a 50-day moving average price of $365.59 and a two-hundred day moving average price of $355.80. Aon plc has a 12 month low of $268.06 and a 12 month high of $395.33. The company has a current ratio of 1.40, a quick ratio of 2.05 and a debt-to-equity ratio of 2.58. The company has a market cap of $83.19 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 2.02 and a beta of 0.93.

AON (NYSE:AON) last issued its earnings results on Friday, January 31st. The financial services provider reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $3.89 EPS. As a group, analysts forecast that Aon plc will post 17.39 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.675 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.70 dividend on an annualized basis and a yield of 0.70%. AON’s payout ratio is presently 21.33%.

Insider Buying and Selling at AON

In other AON news, insider Lisa Stevens sold 1,275 shares of AON stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $387.68, for a total transaction of $494,292.00. Following the transaction, the insider now directly owns 8,077 shares of the company’s stock, valued at approximately $3,131,291.36. The trade was a 13.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mindy F. Simon sold 650 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $394.34, for a total value of $256,321.00. Following the transaction, the chief operating officer now owns 1,816 shares of the company’s stock, valued at $716,121.44. This trade represents a 26.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

About AON

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.