Analysts Issue Forecasts for Aon PLC’s FY2017 Earnings (AON)
Aon PLC (NYSE:AON) – Analysts at Langen Mcalenn boosted their FY2017 earnings per share estimates for Aon PLC in a research report issued on Monday. Langen Mcalenn analyst L. Greenberg now expects that the financial services provider will post earnings of $6.42 per share for the year, up from their previous forecast of $6.35. Langen Mcalenn also issued estimates for Aon PLC’s Q3 2018 earnings at $1.65 EPS and Q4 2018 earnings at $2.77 EPS.
Aon PLC (NYSE:AON) last posted its quarterly earnings data on Friday, October 27th. The financial services provider reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.29 billion. Aon PLC had a return on equity of 32.71% and a net margin of 16.78%. During the same period in the previous year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis.
Several other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Aon PLC from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut Aon PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 price objective (up previously from $146.00) on shares of Aon PLC in a report on Monday, July 24th. Citigroup Inc. increased their price objective on Aon PLC from $144.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $154.00 price objective on shares of Aon PLC in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $144.42.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, October 31st. Aon PLC’s payout ratio is presently 21.79%.
In other news, CEO Michael J. O’connor sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AON. Janus Henderson Group PLC increased its position in Aon PLC by 1,108.1% during the 2nd quarter. Janus Henderson Group PLC now owns 3,180,268 shares of the financial services provider’s stock valued at $422,814,000 after buying an additional 2,917,018 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Aon PLC by 2,385.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,224,194 shares of the financial services provider’s stock valued at $162,757,000 after buying an additional 1,174,940 shares in the last quarter. APG Asset Management N.V. increased its position in Aon PLC by 139.9% during the 3rd quarter. APG Asset Management N.V. now owns 953,932 shares of the financial services provider’s stock valued at $139,369,000 after buying an additional 556,300 shares in the last quarter. Vanguard Group Inc. increased its position in Aon PLC by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,812,319 shares of the financial services provider’s stock valued at $2,368,149,000 after buying an additional 415,363 shares in the last quarter. Finally, Egerton Capital UK LLP bought a new position in Aon PLC during the 2nd quarter valued at approximately $45,094,000. 84.52% of the stock is owned by institutional investors.
About Aon PLC
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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