Aon plc $AON Shares Sold by Canoe Financial LP

Canoe Financial LP decreased its position in Aon plc (NYSE:AON) by 8.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,229 shares of the financial services provider’s stock after selling 7,600 shares during the quarter. Canoe Financial LP’s holdings in AON were worth $28,251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Saudi Central Bank acquired a new position in AON in the first quarter worth $31,000. Heartwood Wealth Advisors LLC bought a new position in shares of AON in the 3rd quarter worth about $29,000. Atlantic Union Bankshares Corp acquired a new position in shares of AON in the 2nd quarter valued at about $31,000. Trust Co. of Toledo NA OH bought a new stake in shares of AON during the 2nd quarter valued at about $32,000. Finally, Pinnacle Bancorp Inc. raised its stake in AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 33 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Trading Up 0.2%

NYSE:AON opened at $356.65 on Friday. The stock has a market cap of $76.65 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.04 and a beta of 0.84. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.35 and a current ratio of 1.35. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97. The business has a fifty day moving average of $346.29 and a 200-day moving average of $355.31.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.97 billion. AON had a net margin of 15.96% and a return on equity of 48.88%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.72 earnings per share. Equities analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $0.745 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. AON’s dividend payout ratio (DPR) is 23.88%.

Analyst Upgrades and Downgrades

AON has been the subject of a number of research reports. Roth Capital restated a “buy” rating and issued a $390.00 target price on shares of AON in a research note on Tuesday, November 4th. Barclays restated an “equal weight” rating and set a $379.00 price objective (down previously from $420.00) on shares of AON in a research report on Thursday, November 20th. UBS Group dropped their target price on AON from $400.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Keefe, Bruyette & Woods reduced their price target on shares of AON from $428.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Finally, Citigroup raised shares of AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective on the stock in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $413.18.

AON 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.