Coldstream Capital Management Inc. Reduces Stock Position in Aon plc (NYSE:AON)

Coldstream Capital Management Inc. lessened its holdings in shares of Aon plc (NYSE:AON) by 7.8% during the second quarter, Holdings Channel reports. The firm owned 5,327 shares of the financial services provider’s stock after selling 453 shares during the quarter. Coldstream Capital Management Inc.’s holdings in AON were worth $1,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in AON during the 4th quarter valued at $423,030,000. Meritage Group LP purchased a new position in shares of AON during the first quarter valued at about $258,471,000. Farallon Capital Management LLC bought a new position in AON in the first quarter worth about $210,911,000. Bank of New York Mellon Corp lifted its holdings in AON by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock worth $587,445,000 after buying an additional 548,563 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in AON by 32.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock valued at $648,663,000 after acquiring an additional 471,424 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AON. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. Piper Sandler upped 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AON from $311.00 to $353.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Barclays started coverage on shares of AON in a report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 target price for the company. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $337.27.

AON Price Performance

AON opened at $344.80 on Thursday. The company’s 50-day simple moving average is $323.41 and its two-hundred day simple moving average is $309.78. Aon plc has a 52-week low of $268.06 and a 52-week high of $352.49. The stock has a market capitalization of $74.97 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.24 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42.

AON (NYSE:AON) last posted 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). The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the firm posted $2.76 EPS. As a group, analysts predict that Aon plc will post 15.23 EPS for the current year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, August 1st. AON’s dividend payout ratio is 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.