Prestige Wealth Management Group LLC Sells 406 Shares of Aon plc (NYSE:AON)

Prestige Wealth Management Group LLC reduced its position in shares of Aon plc (NYSE:AON) by 76.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126 shares of the financial services provider’s stock after selling 406 shares during the period. Prestige Wealth Management Group LLC’s holdings in AON were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new stake in shares of AON in the fourth quarter valued at about $31,000. Rise Advisors LLC acquired a new position in shares of AON during the 1st quarter worth approximately $37,000. First United Bank & Trust bought a new position in shares of AON during the fourth quarter worth approximately $44,000. LRI Investments LLC acquired a new stake in shares of AON in the first quarter valued at approximately $55,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of AON by 52.7% in the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after buying an additional 58 shares during the period. 86.14% of the stock is currently owned by institutional investors.

AON Price Performance

Shares of NYSE AON opened at $348.03 on Monday. The company has a market capitalization of $75.61 billion, a PE ratio of 27.28, a P/E/G ratio of 2.24 and a beta of 0.92. 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 $350.28. The firm has a fifty day simple moving average of $320.15 and a 200 day simple moving average of $309.04.

AON (NYSE:AON) last announced its quarterly earnings data 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). AON had a net margin of 18.00% and a return on equity of 252.81%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period in the prior year, the firm earned $2.76 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, sell-side analysts forecast that Aon plc will post 15.23 EPS for the current year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio (DPR) is 21.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America downgraded AON from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Piper Sandler increased their price target on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Barclays began coverage on AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $335.00 target price on shares of AON in a research report on Monday, August 5th. Finally, Wells Fargo & Company upped their price objective on AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $337.27.

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.