Zions Bancorporation N.A. Sells 445 Shares of Aon plc (NYSE:AON)

Zions Bancorporation N.A. decreased its stake in shares of Aon plc (NYSE:AON) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,994 shares of the financial services provider’s stock after selling 445 shares during the period. Zions Bancorporation N.A.’s holdings in AON were worth $879,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AON. Norges Bank purchased a new position in shares of AON during the 4th quarter worth approximately $423,030,000. Meritage Group LP bought a new position in shares of AON in the first quarter worth approximately $258,471,000. Farallon Capital Management LLC purchased a new position in AON in the 1st quarter worth approximately $210,911,000. Bank of New York Mellon Corp lifted its position in AON by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock valued at $587,445,000 after acquiring an additional 548,563 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AON by 32.0% in the 1st 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 purchasing an additional 471,424 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

AON Trading Down 0.1 %

Shares of AON opened at $347.85 on Friday. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $352.49. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The company’s fifty day moving average is $325.51 and its 200 day moving average is $310.28. The stock has a market capitalization of $75.57 billion, a PE ratio of 27.26, a P/E/G ratio of 2.22 and a beta of 0.92.

AON (NYSE:AON) last released its earnings results 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 net margin of 18.00% and a return on equity of 252.81%. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the company posted $2.76 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Sell-side analysts expect that Aon plc will post 15.23 earnings per share for the current fiscal 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 $0.675 dividend. The ex-dividend date was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.78%. AON’s payout ratio is 21.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AON shares. Bank of America downgraded AON from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Piper Sandler lifted their target price 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 reissued a “sector perform” rating and issued a $335.00 price objective on shares of AON in a report on Monday, August 5th. Barclays began coverage on AON in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AON presently has a consensus rating of “Hold” and an average price target of $337.27.

AON Company 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.