Mitsubishi UFJ Asset Management UK Ltd. Cuts Position in Aon plc (NYSE:AON)

Mitsubishi UFJ Asset Management UK Ltd. lowered its position in shares of Aon plc (NYSE:AON - Free Report) by 55.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,000 shares of the financial services provider's stock after selling 2,500 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in AON were worth $692,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AON. Radnor Capital Management LLC grew its position in shares of AON by 203.6% during the first quarter. Radnor Capital Management LLC now owns 6,290 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 4,218 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in AON in the 2nd quarter valued at about $31,000. Norden Group LLC bought a new position in shares of AON in the first quarter valued at $2,044,000. Daiwa Securities Group Inc. grew its holdings in shares of AON by 14.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 21,145 shares of the financial services provider's stock worth $7,056,000 after acquiring an additional 2,624 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of AON by 0.4% in the first quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider's stock worth $5,894,053,000 after buying an additional 64,500 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Stock Performance

Shares of AON stock traded down $0.82 during trading on Friday, reaching $357.93. 1,529,005 shares of the company's stock traded hands, compared to its average volume of 1,184,108. The firm's 50-day moving average is $345.94 and its 200 day moving average is $315.21. The company has a market capitalization of $77.83 billion, a P/E ratio of 28.05, a PEG ratio of 2.32 and a beta of 0.92. 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 plc has a 1 year low of $268.06 and a 1 year high of $363.46.

AON (NYSE:AON - Get Free Report) last issued 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 business had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. AON's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.76 EPS. Equities research analysts expect that Aon plc will post 15.22 EPS for the current year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.675 per share. The ex-dividend date is Friday, November 1st. This represents a $2.70 dividend on an annualized basis and a yield of 0.75%. AON's dividend payout ratio is currently 21.16%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AON. Jefferies Financial Group upped their target price on AON from $344.00 to $365.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Evercore ISI upped their price target on shares of AON from $338.00 to $384.00 and gave the company an "in-line" rating in a report on Wednesday, October 9th. Barclays started coverage on AON in a report on Wednesday, September 4th. They issued an "overweight" rating and a $394.00 target price on the stock. Wells Fargo & Company raised their price target on shares of AON from $300.00 to $315.00 and gave the stock an "underweight" rating in a research report on Thursday, October 10th. Finally, Bank of America upped their price objective on shares of AON from $345.00 to $375.00 and gave the company an "underperform" rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $347.06.

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.