Aon plc (NYSE:AON) Short Interest Down 10.9% in May

Aon plc (NYSE:AONGet Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 3,030,000 shares, a drop of 10.9% from the May 15th total of 3,400,000 shares. Based on an average trading volume of 1,370,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

AON has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their target price on shares of AON from $318.00 to $353.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler cut their target price on shares of AON from $326.00 to $312.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $311.00 target price on shares of AON in a research note on Tuesday, May 28th. Finally, Keefe, Bruyette & Woods raised their target price on shares of AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $321.86.

View Our Latest Research Report on AON

AON Price Performance

AON stock traded down $2.11 during midday trading on Tuesday, hitting $297.90. 1,633,602 shares of the stock were exchanged, compared to its average volume of 1,255,141. The company has a 50 day moving average price of $291.83 and a two-hundred day moving average price of $304.14. The firm has a market cap of $64.77 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.96 and a beta of 0.91. AON has a 1 year low of $268.06 and a 1 year high of $347.37.

AON (NYSE:AONGet Free Report) last released its earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing the consensus estimate of $5.86 by ($0.20). The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. AON’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.17 EPS. As a group, analysts predict that AON will post 15.48 EPS for the current year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $2.70 annualized dividend and a dividend yield of 0.91%. This is an increase from AON’s previous quarterly dividend of $0.62. AON’s payout ratio is presently 21.16%.

Insider Buying and Selling

In related news, Director Lester B. Knight purchased 10,000 shares of the firm’s stock in a transaction on 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 acquisition, the director now directly owns 139,000 shares in the company, valued at $38,448,790. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On AON

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of AON in the 4th quarter valued at about $423,030,000. Meritage Group LP acquired a new position in shares of AON in the 1st quarter valued at about $258,471,000. Farallon Capital Management LLC acquired a new position in shares of AON in the 1st quarter valued at about $210,911,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of AON by 32.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock valued at $648,663,000 after buying an additional 471,424 shares during the period. Finally, Boston Partners boosted its holdings in shares of AON by 53.6% in the 1st quarter. Boston Partners now owns 984,445 shares of the financial services provider’s stock valued at $326,864,000 after buying an additional 343,635 shares during the period. Institutional investors own 86.14% of the company’s stock.

AON Company Profile

(Get Free Report)

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.

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