Aon plc $AON Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in shares of Aon plc (NYSE:AON) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 159,912 shares of the financial services provider’s stock after selling 19,677 shares during the period. CIBC Asset Management Inc owned 0.07% of AON worth $56,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heartwood Wealth Advisors LLC acquired a new stake in AON during the third quarter worth about $29,000. Salomon & Ludwin LLC acquired a new stake in shares of AON during the 3rd quarter worth approximately $31,000. Atlantic Union Bankshares Corp bought a new stake in shares of AON in the 2nd quarter worth approximately $31,000. Trust Co. of Toledo NA OH acquired a new position in AON during the 2nd quarter valued at approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in AON during the 2nd quarter worth $37,000. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Trading Up 0.8%

Shares of NYSE:AON opened at $338.56 on Friday. The company has a 50 day moving average of $348.67 and a 200-day moving average of $354.35. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.86. The firm has a market cap of $72.77 billion, a P/E ratio of 27.13, a P/E/G ratio of 1.72 and a beta of 0.84. Aon plc has a twelve month low of $323.73 and a twelve month high of $412.97.

AON (NYSE:AON) last announced its earnings results on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.91 by $0.14. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.97 billion. AON had a return on equity of 48.88% and a net margin of 15.96%.The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.72 earnings per share. As a group, analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a dividend of $0.745 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.98 annualized dividend and a yield of 0.9%. AON’s dividend payout ratio (DPR) is currently 23.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AON shares. The Goldman Sachs Group set a $395.00 price target on shares of AON in a report on Wednesday, January 7th. Morgan Stanley set a $400.00 target price on shares of AON in a research note on Tuesday, December 16th. Evercore ISI restated an “outperform” rating and issued a $436.00 price target on shares of AON in a research note on Wednesday, January 7th. Roth Mkm reiterated a “buy” rating and set a $390.00 price objective on shares of AON in a research report on Tuesday, November 4th. Finally, Citigroup upgraded AON from a “neutral” rating to a “buy” rating and set a $402.00 target price on the stock in a research report on Monday, November 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $408.47.

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.