Aon plc $AON Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Aon plc by 7.3%, now holding a total of 78,181 shares valued at approximately $27.9 million.
• Aon reported $3.49 earnings per share (EPS) for the last quarter, surpassing analysts' expectations and marking a 10.5% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.745, with an annualized yield of 0.9%, reflecting a strong dividend payout ratio of 24.96%.

TD Asset Management Inc reduced its stake in Aon plc (NYSE:AON - Free Report) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,181 shares of the financial services provider's stock after selling 6,114 shares during the period. TD Asset Management Inc's holdings in AON were worth $27,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Polen Capital Management LLC boosted its stake in AON by 318.1% during the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock valued at $1,200,350,000 after purchasing an additional 2,288,397 shares in the last quarter. Nuveen LLC acquired a new stake in shares of AON in the first quarter valued at $505,108,000. Wellington Management Group LLP bought a new position in AON during the first quarter valued at about $490,634,000. Bank of New York Mellon Corp grew its holdings in AON by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock worth $1,210,864,000 after acquiring an additional 469,238 shares during the period. Finally, Vontobel Holding Ltd. raised its position in AON by 276.0% in the second quarter. Vontobel Holding Ltd. now owns 460,971 shares of the financial services provider's stock worth $164,456,000 after acquiring an additional 338,373 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Trading Up 1.1%

AON stock opened at $346.74 on Friday. Aon plc has a 52 week low of $323.73 and a 52 week high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market capitalization of $74.77 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 2.02 and a beta of 0.89. The company has a 50 day moving average price of $363.26 and a 200 day moving average price of $361.44.

AON (NYSE:AON - Get Free Report) last released its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%.The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the company earned $2.93 earnings per share. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $0.745 dividend. The ex-dividend date is Monday, November 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. AON's dividend payout ratio is currently 24.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AON shares. Wells Fargo & Company lowered their price objective on shares of AON from $451.00 to $448.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 8th. Piper Sandler lifted their price target on shares of AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Citigroup began coverage on AON in a research report on Wednesday, August 13th. They set a "neutral" rating and a $402.00 price objective for the company. Barclays restated an "overweight" rating and issued a $420.00 target price (up from $401.00) on shares of AON in a report on Thursday, July 31st. Finally, TD Cowen decreased their price target on AON from $427.00 to $419.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, AON currently has a consensus rating of "Moderate Buy" and an average price target of $420.00.

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.

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