Federation des caisses Desjardins du Quebec Increases Holdings in Aon plc $AON

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Aon plc by 3.8%, now holding 67,862 shares valued at $27.1 million.
• Aon has received numerous positive ratings updates, with price targets set as high as $421 and a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.745, translating to an annual dividend yield of 0.8% and a payout ratio of 24.96%.

Federation des caisses Desjardins du Quebec raised its stake in Aon plc (NYSE:AON - Free Report) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,862 shares of the financial services provider's stock after buying an additional 2,478 shares during the period. Federation des caisses Desjardins du Quebec's holdings in AON were worth $27,100,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AON. Financial Gravity Asset Management Inc. acquired a new position in AON during the 1st quarter worth approximately $28,000. Saudi Central Bank purchased a new stake in shares of AON in the first quarter worth approximately $31,000. HHM Wealth Advisors LLC raised its stake in shares of AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock worth $33,000 after purchasing an additional 29 shares during the last quarter. Tsfg LLC purchased a new stake in shares of AON in the first quarter worth approximately $37,000. Finally, Accent Capital Management LLC bought a new position in shares of AON in the first quarter valued at approximately $40,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and upped their target price for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. Barclays reaffirmed an "overweight" rating and issued a $420.00 price target (up from $401.00) on shares of AON in a report on Thursday, July 31st. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 price target for the company in a report on Tuesday, May 13th. Piper Sandler raised their price target on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Evercore ISI raised their price target on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $412.69.

AON Trading Down 0.9%

Shares of AON traded down $3.43 during trading hours on Friday, hitting $370.06. The company had a trading volume of 788,992 shares, compared to its average volume of 1,158,093. The firm has a market cap of $79.80 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.20 and a beta of 0.87. The stock's 50 day moving average price is $362.56 and its 200 day moving average price is $369.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 52-week low of $323.73 and a 52-week high of $412.97.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.40 by $0.09. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 earnings per share. On average, research analysts predict that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.745 dividend. The ex-dividend date was Friday, August 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. AON's payout ratio is currently 24.96%.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.