Bank of Nova Scotia Boosts Stock Holdings in Aon plc $AON

Bank of Nova Scotia raised its stake in Aon plc (NYSE:AON) by 30.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,532 shares of the financial services provider’s stock after acquiring an additional 14,465 shares during the period. Bank of Nova Scotia’s holdings in AON were worth $20,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in shares of AON by 28.4% during the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after acquiring an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of AON by 9.1% in the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock valued at $34,992,000 after purchasing an additional 8,216 shares in the last quarter. Alliancebernstein L.P. increased its position in AON by 35.2% in the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after purchasing an additional 76,061 shares during the last quarter. Diversify Advisory Services LLC raised its stake in AON by 27.1% during the second quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in AON by 46.1% during the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after purchasing an additional 12,631 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

AON Trading Up 1.5%

AON opened at $361.26 on Friday. 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 stock’s 50 day moving average price is $336.57 and its 200-day moving average price is $331.38. Aon plc has a one year low of $304.59 and a one year high of $381.00. The stock has a market cap of $77.16 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.89 and a beta of 0.71.

AON (NYSE:AON) last posted its quarterly earnings data 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. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the business earned $5.67 EPS. AON’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Aon plc will post 19.09 EPS for the current year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 3rd. AON’s dividend payout ratio (DPR) is currently 18.00%.

Insiders Place Their Bets

In related news, General Counsel Darren Zeidel sold 600 shares of AON stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the sale, the general counsel owned 15,354 shares in the company, valued at $5,527,440. This trade represents a 3.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AON. Morgan Stanley boosted their target price on shares of AON from $370.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of AON in a research report on Friday, July 17th. Barclays boosted their price objective on AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company lowered their price objective on AON from $409.00 to $406.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, Mizuho lifted their target price on AON from $389.00 to $426.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $404.56.

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.