Aon plc (NYSE:AON) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC reduced its holdings in Aon plc (NYSE:AON) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,481 shares of the financial services provider’s stock after selling 106 shares during the period. Miracle Mile Advisors LLC’s holdings in AON were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC purchased a new position in shares of AON in the fourth quarter worth about $25,000. Frazier Financial Advisors LLC purchased a new position in shares of AON in the fourth quarter worth about $31,000. Rise Advisors LLC purchased a new position in shares of AON in the first quarter worth about $37,000. Bruce G. Allen Investments LLC purchased a new position in shares of AON in the fourth quarter worth about $40,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in AON during the fourth quarter worth about $43,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AON. Wells Fargo & Company reduced their target price on shares of AON from $300.00 to $289.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of AON in a research note on Tuesday, June 18th. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods lifted their target price on shares of AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Finally, Citigroup assumed coverage on shares of AON in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, AON currently has a consensus rating of “Hold” and an average target price of $321.86.

AON Price Performance

Shares of AON stock traded down $0.09 during trading on Monday, reaching $293.49. The company’s stock had a trading volume of 1,017,869 shares, compared to its average volume of 1,310,142. The company has a market capitalization of $63.81 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.94 and a beta of 0.91. The stock’s 50-day moving average price is $289.64 and its 200 day moving average price is $302.36. Aon plc has a 1-year low of $268.06 and a 1-year high of $344.68.

AON (NYSE:AON) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.14 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.17 EPS. On average, sell-side analysts anticipate that Aon plc will post 15.48 EPS for the current fiscal year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 0.92%. The ex-dividend date was Tuesday, April 30th. This is a boost from AON’s previous quarterly dividend of $0.62. AON’s payout ratio is 21.16%.

Insiders Place Their Bets

In other news, Director Lester B. Knight purchased 10,000 shares of the stock in a transaction on Friday, May 3rd. The stock was 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 of the company’s stock, valued at approximately $38,448,790. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is currently owned by company insiders.

AON Company Profile

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.