Seven Eight Capital LP Has $2.18 Million Position in Aon plc (NYSE:AON)

Seven Eight Capital LP increased its stake in shares of Aon plc (NYSE:AON) by 13.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,516 shares of the financial services provider’s stock after purchasing an additional 774 shares during the quarter. Seven Eight Capital LP’s holdings in AON were worth $2,175,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Signaturefd LLC lifted its stake in AON by 1.8% in the fourth quarter. Signaturefd LLC now owns 2,149 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 38 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in AON by 3.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,246 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 38 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in AON by 3.9% in the first quarter. Proficio Capital Partners LLC now owns 1,016 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 38 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in AON by 5.5% in the first quarter. Avantax Advisory Services Inc. now owns 729 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 38 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in AON by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,724 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 39 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AON. Piper Sandler reduced their target price on shares of AON from $326.00 to $312.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Bank of America lowered shares of AON from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods lifted their price target on shares of AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Citigroup began coverage on shares of AON in a research report on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $311.00 price target on shares of AON in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, AON presently has a consensus rating of “Hold” and a consensus price target of $321.36.

AON Stock Down 0.2 %

AON stock traded down $0.69 on Tuesday, hitting $298.43. The company’s stock had a trading volume of 1,112,372 shares, compared to its average volume of 1,278,944. The firm has a market cap of $64.89 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.91. The company has a fifty day moving average price of $291.43 and a 200-day moving average price of $302.40. Aon plc has a one year low of $268.06 and a one year high of $344.68.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the firm earned $5.17 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Aon plc will post 15.41 EPS for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.675 dividend. The ex-dividend date is Thursday, August 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.90%. AON’s dividend payout ratio is presently 21.16%.

Insider Activity

In other news, Director Lester B. Knight bought 10,000 shares of AON stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now owns 139,000 shares of the company’s stock, valued at $38,448,790. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.15% of the stock is owned by corporate insiders.

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.