Aon plc (NYSE:AON – Get Free Report) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 1,910,000 shares, a drop of 8.2% from the June 15th total of 2,080,000 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 821,000 shares, the days-to-cover ratio is presently 2.3 days.
AON Trading Up 2.1 %
NYSE AON opened at $339.61 on Friday. The stock’s 50 day moving average is $326.96 and its 200 day moving average is $318.99. The firm has a market capitalization of $69.37 billion, a PE ratio of 27.26, a P/E/G ratio of 2.56 and a beta of 0.92. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 182.36. AON has a twelve month low of $266.35 and a twelve month high of $347.37.
AON (NYSE:AON – Get Free Report) last announced its earnings results on Friday, April 28th. The financial services provider reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.32 by ($0.15). AON had a net margin of 20.63% and a negative return on equity of 4,553.36%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the business posted $4.83 EPS. AON’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts forecast that AON will post 14.38 earnings per share for the current fiscal year.
AON Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, July 31st. AON’s dividend payout ratio is presently 19.74%.
Insider Activity
In other news, President Eric Andersen sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $335.55, for a total transaction of $2,516,625.00. Following the transaction, the president now owns 144,164 shares of the company’s stock, valued at approximately $48,374,230.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.15% of the company’s stock.
Institutional Trading of AON
Several institutional investors have recently bought and sold shares of AON. GoalVest Advisory LLC purchased a new stake in shares of AON during the second quarter valued at approximately $25,000. ZRC Wealth Management LLC bought a new stake in shares of AON in the 1st quarter worth $26,000. Mendota Financial Group LLC purchased a new position in shares of AON in the fourth quarter worth $30,000. Milestone Investment Advisors LLC bought a new position in shares of AON during the first quarter valued at $30,000. Finally, Quarry LP bought a new stake in AON in the 1st quarter worth about $31,000. 85.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on AON. Morgan Stanley initiated coverage on AON in a research report on Tuesday, June 20th. They issued an “equal weight” rating and a $340.00 price target for the company. Citigroup boosted their price objective on shares of AON from $340.00 to $344.00 in a research note on Tuesday, April 18th. Wells Fargo & Company raised their price target on shares of AON from $320.00 to $321.00 and gave the company an “equal weight” rating in a report on Wednesday, April 5th. JPMorgan Chase & Co. lifted their price objective on AON from $322.00 to $351.00 in a research note on Thursday, July 6th. Finally, Jefferies Financial Group upped their target price on AON from $313.00 to $314.00 and gave the stock a “hold” rating in a research note on Monday, April 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $332.20.
About AON
Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health 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.