Chevy Chase Trust Holdings LLC Trims Stake in Aon plc (NYSE:AON)

Chevy Chase Trust Holdings LLC reduced its position in Aon plc (NYSE:AON) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,560 shares of the financial services provider’s stock after selling 2,989 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of AON worth $41,864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AON. Diamond Hill Capital Management Inc. purchased a new position in shares of AON during the third quarter worth approximately $336,375,000. State Street Corp increased its position in shares of AON by 0.4% during the third quarter. State Street Corp now owns 8,844,121 shares of the financial services provider’s stock worth $3,059,977,000 after acquiring an additional 32,417 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of AON by 13.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 165,741 shares of the financial services provider’s stock worth $57,345,000 after acquiring an additional 20,084 shares during the period. Retireful LLC purchased a new position in shares of AON during the third quarter worth approximately $759,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of AON by 5.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,533 shares of the financial services provider’s stock valued at $9,530,000 after purchasing an additional 1,451 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Mindy F. Simon sold 650 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $394.34, for a total transaction of $256,321.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lisa Stevens sold 1,275 shares of AON stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $387.68, for a total transaction of $494,292.00. Following the completion of the transaction, the insider now directly owns 8,077 shares of the company’s stock, valued at $3,131,291.36. The trade was a 13.63 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

AON Trading Down 0.8 %

NYSE:AON opened at $387.22 on Friday. Aon plc has a 12 month low of $268.06 and a 12 month high of $395.33. The firm has a fifty day simple moving average of $365.57 and a 200-day simple moving average of $358.89. 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 capitalization of $83.74 billion, a P/E ratio of 30.59, a PEG ratio of 2.09 and a beta of 0.93.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.42 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $3.89 earnings per share. On average, equities research analysts anticipate that Aon plc will post 17.24 earnings per share for the current year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.70 annualized dividend and a dividend yield of 0.70%. AON’s dividend payout ratio (DPR) is presently 21.33%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of AON from $372.00 to $384.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of AON from $390.00 to $400.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of AON from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Evercore ISI upgraded shares of AON from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $407.00 to $420.00 in a research note on Wednesday, January 8th. Finally, TD Cowen increased their price objective on shares of AON from $413.00 to $432.00 in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $386.21.

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.