GFI Investment Counsel Ltd. Buys 3,209 Shares of Aon plc $AON

Key Points

• GFI Investment Counsel Ltd. increased its stake in Aon plc by 2% in Q1, making it the 8th largest holding in their portfolio, representing 7.6% of their investments.
• Aon reported earnings of $3.49 per share for Q2, exceeding analysts' expectations, and demonstrated a significant revenue growth of 10.5% year-over-year.
• Aon announced a quarterly dividend of $0.745, reflecting an annualized yield of 0.8%, with a dividend payout ratio of 24.96%.

GFI Investment Counsel Ltd. boosted its stake in Aon plc (NYSE:AON - Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,336 shares of the financial services provider's stock after acquiring an additional 3,209 shares during the period. AON comprises approximately 7.6% of GFI Investment Counsel Ltd.'s portfolio, making the stock its 8th largest position. GFI Investment Counsel Ltd. owned approximately 0.08% of AON worth $65,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of AON by 1.3% in the first quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider's stock valued at $7,893,382,000 after buying an additional 258,699 shares during the last quarter. Bank of New York Mellon Corp grew its position 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 buying an additional 469,238 shares during the period. Polen Capital Management LLC grew its position in AON by 318.1% during the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock worth $1,200,350,000 after buying an additional 2,288,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AON by 2.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider's stock worth $954,053,000 after buying an additional 61,350 shares during the period. Finally, Northern Trust Corp grew its position in AON by 6.1% during the first quarter. Northern Trust Corp now owns 2,290,619 shares of the financial services provider's stock worth $914,163,000 after buying an additional 131,676 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods decreased their price target on shares of AON from $414.00 to $409.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Cantor Fitzgerald raised shares of AON to a "strong-buy" rating in a report on Wednesday, August 13th. Piper Sandler lifted their price target on shares of AON from $393.00 to $413.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, The Goldman Sachs Group raised shares of 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $409.18.

AON Stock Performance

AON stock traded down $0.8030 during midday trading on Friday, reaching $374.4670. 1,190,563 shares of the stock traded hands, compared to its average volume of 1,472,991. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The firm has a fifty day moving average price of $359.36 and a two-hundred day moving average price of $370.49. The firm has a market cap of $80.75 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 2.22 and a beta of 0.83. Aon plc has a fifty-two week low of $323.73 and a fifty-two week high of $412.97.

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

AON Announces Dividend

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

AON Profile

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.