Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Aon plc (NYSE:AON)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Aon plc (NYSE:AON) by 68.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,130 shares of the financial services provider’s stock after selling 35,757 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in AON were worth $4,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AON. Y.D. More Investments Ltd acquired a new position in shares of AON during the second quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in AON in the first quarter worth $37,000. Nemes Rush Group LLC bought a new stake in AON in the second quarter worth $45,000. Bruce G. Allen Investments LLC boosted its holdings in AON by 52.7% in the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 58 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in AON during the 1st quarter valued at $55,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AON shares. Piper Sandler increased their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Barclays started coverage on AON in a report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 price objective on shares of AON in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AON from $311.00 to $353.00 and gave the company a “hold” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $337.27.

AON Stock Performance

AON stock opened at $348.77 on Thursday. The company has a market capitalization of $75.77 billion, a PE ratio of 27.33, a P/E/G ratio of 2.24 and a beta of 0.92. The firm has a fifty day simple moving average of $338.62 and a two-hundred day simple moving average of $313.02. 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 twelve month low of $268.06 and a twelve month high of $353.54.

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 the consensus estimate of $3.08 by ($0.15). The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The business’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the company posted $2.76 earnings per share. Research analysts expect that Aon plc will post 15.23 EPS for the current year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s payout ratio is currently 21.16%.

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.