Aon plc (NYSE:AON) Short Interest Down 8.2% in July

Aon plc (NYSE:AON) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 3,350,000 shares, a drop of 8.2% from the June 30th total of 3,650,000 shares. Based on an average trading volume of 1,600,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.6% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler increased their target price on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and cut their target price for the company from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $311.00 price objective on shares of AON in a report on Tuesday, May 28th. Morgan Stanley lowered their target price on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, AON has a consensus rating of “Hold” and an average target price of $330.21.

AON Stock Down 0.0 %

Shares of NYSE:AON traded down $0.01 during trading hours on Thursday, reaching $327.82. The stock had a trading volume of 830,974 shares, compared to its average volume of 1,302,001. The stock has a market capitalization of $71.22 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 2.10 and a beta of 0.91. The firm’s 50 day moving average is $295.74 and its 200-day moving average is $303.37. AON has a 1 year low of $268.06 and a 1 year high of $344.68. The company has a debt-to-equity ratio of 2.92, a quick ratio of 4.13 and a current ratio of 2.42.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share 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 analyst estimates of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.76 earnings per share. Research analysts predict that AON will post 15.31 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, August 1st. AON’s dividend payout ratio (DPR) is 21.16%.

Insiders Place Their Bets

In other news, Director Lester B. Knight bought 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $38,448,790. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Lester B. Knight purchased 10,000 shares of AON stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the transaction, the director now owns 139,000 shares in the company, valued at $38,448,790. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Andy Weitz 8,454 shares of the business’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Corporate insiders own 1.15% of the company’s stock.

Institutional Trading of AON

Several institutional investors and hedge funds have recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new position in AON during the fourth quarter worth approximately $31,000. Rise Advisors LLC acquired a new position in shares of AON in the 1st quarter valued at $37,000. Turtle Creek Wealth Advisors LLC purchased a new stake in AON in the 4th quarter valued at $43,000. First United Bank & Trust purchased a new position in AON during the 4th quarter worth $44,000. Finally, LRI Investments LLC acquired a new position in AON in the first quarter valued at $55,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.