Portside Wealth Group LLC Sells 180 Shares of Aon plc (NYSE:AON)

Portside Wealth Group LLC lessened its stake in Aon plc (NYSE:AON) by 10.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,608 shares of the financial services provider’s stock after selling 180 shares during the quarter. Portside Wealth Group LLC’s holdings in AON were worth $472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AON. International Assets Investment Management LLC purchased a new stake in shares of AON during the fourth quarter valued at $157,650,000. Cerity Partners LLC grew its stake in shares of AON by 177.4% in the fourth quarter. Cerity Partners LLC now owns 18,461 shares of the financial services provider’s stock worth $5,372,000 after acquiring an additional 11,806 shares during the period. SVB Wealth LLC boosted its holdings in AON by 14.0% in the fourth quarter. SVB Wealth LLC now owns 2,559 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 314 shares during the last quarter. Everence Capital Management Inc. grew its position in AON by 23.5% in the 4th quarter. Everence Capital Management Inc. now owns 6,840 shares of the financial services provider’s stock worth $1,991,000 after purchasing an additional 1,300 shares during the period. Finally, West Paces Advisors Inc. lifted its holdings in shares of AON by 11.8% during the 4th quarter. West Paces Advisors Inc. now owns 426 shares of the financial services provider’s stock valued at $124,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $335.00 target price on shares of AON in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $311.00 target price on shares of AON in a report on Tuesday, May 28th. Keefe, Bruyette & Woods raised AON from an “underperform” rating to an “outperform” rating and boosted their price target for the company from $313.00 to $380.00 in a report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their price objective on AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, AON currently has an average rating of “Hold” and an average target price of $330.21.

AON Price Performance

AON stock traded up $0.59 during midday trading on Friday, reaching $332.05. 620,604 shares of the stock traded hands, compared to its average volume of 1,285,403. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. Aon plc has a 12 month low of $268.06 and a 12 month high of $344.68. The stock’s fifty day moving average is $306.08 and its 200-day moving average is $305.28. The stock has a market cap of $72.13 billion, a P/E ratio of 26.02, a PEG ratio of 2.13 and a beta of 0.91.

AON (NYSE:AON) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. AON’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.76 EPS. As a group, equities research analysts anticipate that Aon plc will post 15.25 EPS for the current year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 annualized dividend and a yield of 0.81%. AON’s payout ratio is 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.