Teachers Retirement System of The State of Kentucky trimmed its position in shares of Aon PLC (NYSE:AON) by 29.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,761 shares of the financial services provider’s stock after selling 142,200 shares during the period. Aon PLC makes up 0.6% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 27th biggest position. Teachers Retirement System of The State of Kentucky owned 0.13% of Aon PLC worth $44,373,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AON. Parallel Advisors LLC grew its holdings in Aon PLC by 16.7% during the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 106 shares in the last quarter. FNY Partners Fund LP acquired a new position in Aon PLC during the 1st quarter worth $106,000. Fiduciary Trust Co. acquired a new position in Aon PLC during the 2nd quarter worth $108,000. Magellan Asset Management Ltd grew its holdings in Aon PLC by 110.2% during the 2nd quarter. Magellan Asset Management Ltd now owns 847 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 444 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new position in Aon PLC during the 2nd quarter worth $126,000. 84.32% of the stock is owned by institutional investors and hedge funds.
Aon PLC (NYSE:AON) traded up 0.75% during mid-day trading on Friday, hitting $146.02. 778,916 shares of the company were exchanged. Aon PLC has a 12-month low of $107.19 and a 12-month high of $146.16. The company has a 50 day moving average of $139.76 and a 200 day moving average of $130.04. The stock has a market cap of $37.14 billion, a P/E ratio of 21.33 and a beta of 1.02.
Aon PLC (NYSE:AON) last announced its quarterly earnings results on Friday, August 4th. The financial services provider reported $1.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.45. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Aon PLC had a net margin of 17.28% and a return on equity of 32.62%. Aon PLC’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. On average, equities research analysts expect that Aon PLC will post $6.50 earnings per share for the current fiscal year.
In related news, CEO Michael J. O’connor sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $145.00, for a total value of $1,450,000.00. Following the sale, the chief executive officer now directly owns 123,805 shares in the company, valued at approximately $17,951,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.
Several research firms have recently commented on AON. Morgan Stanley reaffirmed an “equal weight” rating and issued a $138.00 price target (up from $130.00) on shares of Aon PLC in a report on Thursday, July 6th. BidaskClub lowered shares of Aon PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Citigroup Inc. lifted their price target on shares of Aon PLC from $155.00 to $159.00 and gave the company a “buy” rating in a report on Monday, August 7th. Langen Mcalenn lowered shares of Aon PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Aon PLC in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Aon PLC presently has an average rating of “Hold” and an average price target of $139.00.
Aon PLC Profile
Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.
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