Kingswood Wealth Advisors LLC Sells 348 Shares of Aon plc (NYSE:AON)

Kingswood Wealth Advisors LLC decreased its position in shares of Aon plc (NYSE:AON) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,702 shares of the financial services provider’s stock after selling 348 shares during the period. Kingswood Wealth Advisors LLC’s holdings in AON were worth $1,380,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AON. Norges Bank bought a new stake in AON in the fourth quarter worth $423,030,000. Meritage Group LP bought a new stake in shares of AON in the 1st quarter worth about $258,471,000. Farallon Capital Management LLC bought a new position in shares of AON in the 1st quarter valued at about $210,911,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AON by 32.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock worth $648,663,000 after acquiring an additional 471,424 shares in the last quarter. Finally, Boston Partners increased its stake in AON by 53.6% during the first quarter. Boston Partners now owns 984,445 shares of the financial services provider’s stock worth $326,864,000 after acquiring an additional 343,635 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling at AON

In other AON news, insider Andy Weitz 8,454 shares of AON stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AON. Bank of America lowered shares of AON from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Piper Sandler increased their price objective on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and set a $335.00 target price on shares of AON in a research report on Monday. JPMorgan Chase & Co. increased their price target on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $311.00 price objective on shares of AON in a report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $330.21.

AON Stock Up 0.8 %

NYSE AON traded up $2.60 during trading on Wednesday, reaching $326.00. 819,416 shares of the company’s stock traded hands, compared to its average volume of 1,300,461. The company’s 50 day simple moving average is $298.50 and its two-hundred day simple moving average is $303.81. Aon plc has a 12-month low of $268.06 and a 12-month high of $344.68. The firm has a market cap of $70.88 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.91. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 4.13.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 EPS 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 business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the firm earned $2.76 EPS. The business’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, sell-side analysts forecast that Aon plc will post 15.31 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 issued a $0.675 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a yield of 0.83%. AON’s dividend payout ratio is presently 21.16%.

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.