Aon plc $AON Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its holdings in shares of Aon plc (NYSE:AON) by 44.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,600 shares of the financial services provider’s stock after selling 70,312 shares during the quarter. CIBC Asset Management Inc’s holdings in AON were worth $31,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Sound View Wealth Advisors Group LLC raised its position in shares of AON by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 29 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in AON by 2.1% during the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock valued at $558,000 after buying an additional 32 shares during the last quarter. Westpac Banking Corp increased its position in AON by 5.6% during the third quarter. Westpac Banking Corp now owns 620 shares of the financial services provider’s stock worth $221,000 after buying an additional 33 shares in the last quarter. Capital Investment Advisors LLC raised its holdings in shares of AON by 1.8% in the fourth quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 33 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its position in shares of AON by 39.3% in the fourth quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 33 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AON shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a research note on Tuesday, April 21st. Citigroup increased their price objective on AON from $412.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Mizuho decreased their price objective on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price objective on AON from $406.00 to $396.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on AON from $416.00 to $401.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, AON currently has an average rating of “Moderate Buy” and a consensus price target of $396.81.

AON Trading Down 0.6%

NYSE AON opened at $315.86 on Thursday. The company has a 50-day moving average of $321.44 and a 200-day moving average of $333.40. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. Aon plc has a 12 month low of $304.59 and a 12 month high of $381.00. The company has a market cap of $67.46 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.67 and a beta of 0.71.

AON (NYSE:AON) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. AON’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.67 earnings per share. As a group, equities analysts predict that Aon plc will post 19.1 earnings per share for the current year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.82 dividend. This is an increase from AON’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. AON’s dividend payout ratio is 16.36%.

About AON

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.