Today: Olstein Capital Management L.P. Cuts Stake in Aon PLC (AON)

Today: Olstein Capital Management L.P. Cuts Stake in Aon PLC (AON)

Olstein Capital Management L.P. lowered its position in Aon PLC (NYSE:AON) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,000 shares of the company’s stock after selling 14,000 shares during the period. Olstein Capital Management L.P.’s holdings in Aon PLC were worth $8,437,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Ancora Inverness LLC raised its stake in Aon PLC by 14.2% in the third quarter. Ancora Inverness LLC now owns 6,450 shares of the company’s stock worth $726,000 after buying an additional 800 shares during the last quarter. Ngam Advisors L.P. raised its stake in Aon PLC by 12.8% in the third quarter. Ngam Advisors L.P. now owns 206,279 shares of the company’s stock worth $23,204,000 after buying an additional 23,479 shares in the last quarter. Sentry Investment Management LLC raised its stake in Aon PLC by 23.7% in the third quarter. Sentry Investment Management LLC now owns 51,707 shares of the company’s stock worth $5,817,000 after buying an additional 9,910 shares in the last quarter. Global X Management Co. LLC raised its stake in Aon PLC by 1,613.4% in the third quarter. Global X Management Co. LLC now owns 14,907 shares of the company’s stock worth $1,677,000 after buying an additional 14,037 shares in the last quarter. Finally, Kings Point Capital Management raised its stake in Aon PLC by 94.3% in the third quarter. Kings Point Capital Management now owns 33,018 shares of the company’s stock worth $3,714,000 after buying an additional 16,028 shares in the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Aon PLC (NYSE:AON) opened at 113.81 on Monday. Aon PLC has a one year low of $83.83 and a one year high of $113.97. The stock has a 50 day moving average of $110.60 and a 200 day moving average of $109.56. The stock has a market cap of $29.94 billion, a P/E ratio of 20.98 and a beta of 1.02.

Aon PLC (NYSE:AON) last issued its earnings results on Friday, October 28th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Aon PLC had a net margin of 12.75% and a return on equity of 30.61%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the business earned $1.24 earnings per share. The business’s revenue was up .1% on a year-over-year basis. On average, analysts forecast that Aon PLC will post $6.50 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, October 28th. Aon PLC’s dividend payout ratio is 24.49%.

AON has been the topic of a number of analyst reports. Credit Suisse Group AG reaffirmed a “sell” rating on shares of Aon PLC in a research note on Monday, August 1st. Barclays PLC reduced their price objective on shares of Aon PLC from $104.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Friday, September 30th. Sandler O’Neill raised shares of Aon PLC from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Zacks Investment Research raised shares of Aon PLC from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Finally, Citigroup Inc. upped their price objective on shares of Aon PLC from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Aon PLC presently has a consensus rating of “Hold” and an average price target of $112.75.

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