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

Canoe Financial LP lessened its stake in shares of Aon plc (NYSE:AON) by 29.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund 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.

Other large investors have also recently bought and sold shares of the company. Sound View Wealth Advisors Group LLC boosted its holdings in shares of AON by 1.5% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock worth $683,000 after acquiring an additional 29 shares during the period. Kathmere Capital Management LLC lifted its holdings in AON by 2.1% during the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 32 shares during the last quarter. City National Bank of Florida MSD lifted its holdings in AON by 3.8% during the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 32 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in AON by 1.8% in the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 33 shares during the period. Finally, Salomon & Ludwin LLC grew its holdings in AON by 39.3% in the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after buying an additional 33 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

AON opened at $328.40 on Monday. The firm has a market cap 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. 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 business’s fifty day moving average is $322.53 and its 200-day moving average is $330.79.

AON (NYSE:AON) last posted its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 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 business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the previous year, the firm earned $5.67 earnings per share. AON’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts expect that Aon plc will post 19.09 EPS for the current fiscal year.

AON Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AON. Keefe, Bruyette & Woods dropped their target price on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Barclays lowered their price target on shares of AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Wells Fargo & Company dropped their price objective on shares of AON from $443.00 to $402.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. UBS Group cut their price objective on shares of AON from $385.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.