Canoe Financial LP Sells 22,560 Shares of Aon plc $AON

Canoe Financial LP cut its position in shares of Aon plc (NYSE:AON) by 29.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,189 shares of the financial services provider’s stock after selling 22,560 shares during the quarter. Canoe Financial LP’s holdings in AON were worth $17,814,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. acquired a new position in AON during the fourth quarter worth $4,305,000. SG Americas Securities LLC increased its stake in AON by 1,640.4% in the 4th quarter. SG Americas Securities LLC now owns 143,163 shares of the financial services provider’s stock valued at $50,519,000 after buying an additional 134,937 shares during the last quarter. Bowie Capital Management LLC lifted its position in AON by 31.0% during the 3rd quarter. Bowie Capital Management LLC now owns 356,887 shares of the financial services provider’s stock worth $127,259,000 after buying an additional 84,446 shares in the last quarter. Aviva PLC boosted its stake in shares of AON by 2.0% during the 4th quarter. Aviva PLC now owns 333,454 shares of the financial services provider’s stock worth $117,669,000 after buying an additional 6,622 shares during the last quarter. Finally, TABR Capital Management LLC bought a new position in shares of AON in the 4th quarter valued at about $1,278,000. Institutional investors own 86.14% of the company’s stock.

AON Trading Down 0.1%

Shares of NYSE:AON opened at $328.40 on Monday. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $70.14 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. The company has a 50-day simple moving average of $322.53 and a 200 day simple moving average of $330.79.

AON (NYSE:AON) last announced its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.67 earnings per share. Sell-side analysts forecast that Aon plc will post 19.09 earnings per share for the current year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from AON’s previous quarterly dividend of $0.74. AON’s payout ratio is presently 18.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on AON. Wells Fargo & Company dropped their target price on AON from $443.00 to $402.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a research report on Tuesday, April 21st. JPMorgan Chase & Co. dropped 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. Keefe, Bruyette & Woods cut their price objective on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Finally, Piper Sandler decreased their target price on shares of AON from $360.00 to $355.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $394.94.

AON Company Profile

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.