State of New Jersey Common Pension Fund D Reduces Position in Aon plc (NYSE:AON)

State of New Jersey Common Pension Fund D cut its holdings in shares of Aon plc (NYSE:AON) by 37.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,718 shares of the financial services provider’s stock after selling 43,827 shares during the period. State of New Jersey Common Pension Fund D’s holdings in AON were worth $21,349,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Gryphon Financial Partners LLC lifted its holdings in AON by 262.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock valued at $1,181,000 after acquiring an additional 2,989 shares during the period. California State Teachers Retirement System lifted its holdings in AON by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 331,760 shares of the financial services provider’s stock valued at $96,549,000 after acquiring an additional 4,843 shares during the period. Radnor Capital Management LLC lifted its holdings in AON by 203.6% in the first quarter. Radnor Capital Management LLC now owns 6,290 shares of the financial services provider’s stock valued at $2,099,000 after acquiring an additional 4,218 shares during the period. Norden Group LLC bought a new position in AON in the first quarter valued at about $2,044,000. Finally, Daiwa Securities Group Inc. lifted its holdings in AON by 14.2% in the first quarter. Daiwa Securities Group Inc. now owns 21,145 shares of the financial services provider’s stock valued at $7,056,000 after acquiring an additional 2,624 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Up 1.0 %

Shares of AON opened at $348.11 on Friday. The business’s 50 day moving average is $324.47 and its 200 day moving average is $310.05. The company has a market capitalization of $75.62 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.22 and a beta of 0.92. Aon plc has a 12-month low of $268.06 and a 12-month high of $352.49. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92.

AON (NYSE:AON) last released 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 return on equity of 252.81% and a net margin of 18.00%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the firm earned $2.76 EPS. The business’s revenue was up 18.4% compared to the same quarter last year. Research analysts expect that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders 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 0.78%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s payout ratio is 21.16%.

Analyst Ratings Changes

Several research analysts have recently commented on AON shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $335.00 price objective on shares of AON in a research note on Monday, August 5th. Wells Fargo & Company raised their price objective on AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Barclays started coverage on AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price objective on the stock. Finally, Morgan Stanley decreased their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.