Toronto Dominion Bank Trims Stock Position in Aon plc (NYSE:AON)

Toronto Dominion Bank trimmed its holdings in Aon plc (NYSE:AON) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,085 shares of the financial services provider’s stock after selling 10,009 shares during the quarter. Toronto Dominion Bank’s holdings in AON were worth $30,851,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AON. Y.D. More Investments Ltd acquired a new stake in AON during the second quarter worth about $31,000. Rise Advisors LLC purchased a new position in shares of AON during the 1st quarter valued at approximately $37,000. Bruce G. Allen Investments LLC lifted its stake in shares of AON by 52.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 58 shares during the period. LRI Investments LLC purchased a new stake in AON during the first quarter worth $55,000. Finally, New Covenant Trust Company N.A. acquired a new stake in AON during the first quarter valued at $59,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Stock Down 0.1 %

AON stock opened at $346.99 on Thursday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. The firm has a 50-day moving average of $332.77 and a two-hundred day moving average of $311.79. Aon plc has a 12 month low of $268.06 and a 12 month high of $353.54. The company has a market cap of $75.45 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.25 and a beta of 0.92.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.15). The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. AON’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.76 EPS. As a group, analysts forecast that Aon plc will post 15.23 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.675 per share. The ex-dividend date was Thursday, August 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.78%. AON’s payout ratio is 21.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AON. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and raised their target price for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on AON from $311.00 to $353.00 and gave the company a “hold” rating in a report on Monday, August 26th. Piper Sandler increased their target price on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $335.00 price target on shares of AON in a report on Monday, August 5th. Finally, Barclays started coverage on shares of AON in a report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $337.27.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.