Beacon Financial Group Holding in Diageo Plc (DEO) Has Lowered as Stock Price Rose; Sound Shore Management Lowered Its Aon Plc (AON) Stake by $2.90 Million as Shares Rose

January 14, 2018 - By Nellie Frank

Sound Shore Management Inc decreased its stake in Aon Plc (AON) by 1.76% based on its latest 2017Q3 regulatory filing with the SEC. Sound Shore Management Inc sold 19,871 shares as the company’s stock rose 8.30% with the market. The institutional investor held 1.11M shares of the specialty insurers company at the end of 2017Q3, valued at $161.67M, down from 1.13 million at the end of the previous reported quarter. Sound Shore Management Inc who had been investing in Aon Plc for a number of months, seems to be less bullish one the $34.14B market cap company. The stock increased 0.95% or $1.28 during the last trading session, reaching $136.55. About 905,682 shares traded. Aon plc (NYSE:AON) has risen 21.47% since January 14, 2017 and is uptrending. It has outperformed by 4.77% the S&P500.

Beacon Financial Group decreased its stake in Diageo Plc (DEO) by 38.58% based on its latest 2017Q3 regulatory filing with the SEC. Beacon Financial Group sold 7,787 shares as the company’s stock rose 5.26% with the market. The institutional investor held 12,399 shares of the beverages (production and distribution) company at the end of 2017Q3, valued at $1.64M, down from 20,186 at the end of the previous reported quarter. Beacon Financial Group who had been investing in Diageo Plc for a number of months, seems to be less bullish one the $88.68 billion market cap company. The stock increased 0.51% or $0.73 during the last trading session, reaching $144.72. About 414,243 shares traded or 8.78% up from the average. Diageo plc (NYSE:DEO) has risen 12.82% since January 14, 2017 and is uptrending. It has underperformed by 3.88% the S&P500.

Among 14 analysts covering Aon Corporation (NYSE:AON), 3 have Buy rating, 2 Sell and 9 Hold. Therefore 21% are positive. Aon Corporation had 43 analyst reports since August 3, 2015 according to SRatingsIntel. The rating was downgraded by Raymond James on Friday, April 15 to “Underperform”. The stock has “Hold” rating by Sandler O’Neill on Monday, October 30. The stock has “Equal-Weight” rating by Barclays Capital on Monday, October 16. As per Friday, June 16, the company rating was maintained by Jefferies. The rating was upgraded by Sandler O’Neill on Monday, November 7 to “Buy”. The rating was maintained by RBC Capital Markets with “Hold” on Monday, July 17. Citigroup maintained it with “Buy” rating and $159 target in Monday, August 7 report. The firm has “Buy” rating by Citigroup given on Friday, April 8. The firm has “Hold” rating given on Friday, October 27 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Tuesday, September 5 with “Hold”.

Analysts await Aon plc (NYSE:AON) to report earnings on February, 9. They expect $2.35 EPS, down 8.20% or $0.21 from last year’s $2.56 per share. AON’s profit will be $587.56 million for 14.53 P/E if the $2.35 EPS becomes a reality. After $1.29 actual EPS reported by Aon plc for the previous quarter, Wall Street now forecasts 82.17% EPS growth.

Sound Shore Management Inc, which manages about $6.15B and $6.12 billion US Long portfolio, upped its stake in Flex Ltd. (NASDAQ:FLEX) by 742,921 shares to 11.07 million shares, valued at $183.46M in 2017Q3, according to the filing. It also increased its holding in Citigroup Inc. (NYSE:C) by 176,310 shares in the quarter, for a total of 3.62 million shares, and has risen its stake in Antero Resources Corporation (NYSE:AR).

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