Ameriprise Financial Inc. Reduces Holdings in Aon plc (NYSE:AON)

Posted by Defense World Staff on Sep 16th, 2023

Ameriprise Financial Inc. decreased its holdings in shares of Aon plc (NYSE:AON – Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 804,914 shares of the financial services provider’s stock after selling 88,253 shares during the period. Ameriprise Financial Inc. owned approximately 0.39% of AON worth $253,791,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC lifted its position in AON by 106,777.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,817,279 shares of the financial services provider’s stock valued at $845,578,000 after purchasing an additional 2,814,643 shares during the period. Mackenzie Financial Corp acquired a new stake in AON in the first quarter valued at about $721,085,000. Norges Bank acquired a new stake in AON in the fourth quarter valued at about $341,922,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in AON by 565.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 989,370 shares of the financial services provider’s stock valued at $311,938,000 after purchasing an additional 840,742 shares during the period. Finally, Morgan Stanley lifted its position in AON by 38.7% in the fourth quarter. Morgan Stanley now owns 2,223,478 shares of the financial services provider’s stock valued at $667,355,000 after purchasing an additional 620,067 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.

AON Stock Down 0.8 %

AON stock opened at $336.10 on Friday. The stock has a market capitalization of $68.18 billion, a P/E ratio of 26.18, a PEG ratio of 2.56 and a beta of 0.90. The company has a debt-to-equity ratio of 61.66, a quick ratio of 1.66 and a current ratio of 1.66. Aon plc has a one year low of $266.35 and a one year high of $347.37. The company has a 50 day moving average price of $329.62 and a two-hundred day moving average price of $322.85.

AON (NYSE:AON – Get Free Report) last released its earnings results on Friday, July 28th. The financial services provider reported $2.76 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.07). The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.17 billion. AON had a negative return on equity of 1,312.86% and a net margin of 20.78%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 earnings per share. As a group, sell-side analysts expect that Aon plc will post 14.26 EPS for the current year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.615 per share. The ex-dividend date was Monday, July 31st. This represents a $2.46 dividend on an annualized basis and a dividend yield of 0.73%. AON’s payout ratio is 19.16%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AON. Piper Sandler reduced their price target on shares of AON from $325.00 to $322.00 and set a “neutral” rating for the company in a research report on Monday, July 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $352.00 price target on shares of AON in a research report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $340.00 price target on shares of AON in a research report on Tuesday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of AON from $322.00 to $351.00 in a research report on Thursday, July 6th. Finally, Bank of America raised their price objective on shares of AON from $365.00 to $380.00 in a research note on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $341.55.

Read Our Latest Research Report on AON

Insider Transactions at AON

In other news, Director Byron Spruell acquired 800 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was acquired at an average cost of $324.57 per share, for a total transaction of $259,656.00. Following the acquisition, the director now directly owns 4,001 shares in the company, valued at approximately $1,298,604.57. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.15% of the company’s stock.

AON Company Profile

(Free Report)

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health 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.