Point72 Asset Management L.P. decreased its stake in Aon PLC (NYSE:AON) by 65.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,000 shares of the financial services provider’s stock after selling 104,948 shares during the period. Point72 Asset Management L.P.’s holdings in AON were worth $8,036,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of AON. Janus Henderson Group PLC grew its stake in AON by 1,108.1% during the second quarter. Janus Henderson Group PLC now owns 3,180,268 shares of the financial services provider’s stock worth $422,814,000 after purchasing an additional 2,917,018 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its stake in AON by 2,385.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,224,194 shares of the financial services provider’s stock worth $162,757,000 after purchasing an additional 1,174,940 shares during the period. SPF Beheer BV acquired a new stake in AON during the third quarter worth approximately $84,347,000. APG Asset Management N.V. grew its stake in AON by 139.9% during the third quarter. APG Asset Management N.V. now owns 953,932 shares of the financial services provider’s stock worth $139,369,000 after purchasing an additional 556,300 shares during the period. Finally, Findlay Park Partners LLP acquired a new stake in AON during the third quarter worth approximately $68,840,000. 87.66% of the stock is owned by institutional investors.
In other news, CEO John Zern sold 17,680 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $139.79, for a total value of $2,471,487.20. Following the transaction, the chief executive officer now owns 27,695 shares in the company, valued at $3,871,484.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. O’connor sold 10,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 123,805 shares in the company, valued at approximately $17,951,725. The disclosure for this sale can be found here. Insiders sold 51,680 shares of company stock worth $7,353,887 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.
AON (NYSE:AON) last announced its quarterly earnings results on Friday, October 27th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. AON had a return on equity of 32.71% and a net margin of 16.78%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. equities analysts expect that Aon PLC will post 6.53 EPS for the current year.
AON has been the subject of several recent analyst reports. Zacks Investment Research raised AON from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research note on Wednesday, October 25th. ValuEngine upgraded AON from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $154.00 price target on shares of AON in a report on Monday, October 16th. Wells Fargo & Company increased their price target on AON from $138.00 to $143.00 and gave the stock a “market perform” rating in a report on Monday, October 30th. Finally, Barclays increased their price target on AON from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $145.08.
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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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