Aon plc (NYSE:AON) Shares Sold by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. reduced its stake in Aon plc by 17.2%, now owning 8,840 shares valued at approximately $3.5 million.
• Aon reported $3.49 earnings per share for the last quarter, exceeding estimates and showing a 10.5% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.745 per share, with a 0.8% dividend yield and a payout ratio of 24.96%.

Scotia Capital Inc. lessened its stake in Aon plc (NYSE:AON - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,840 shares of the financial services provider's stock after selling 1,830 shares during the quarter. Scotia Capital Inc.'s holdings in AON were worth $3,528,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new stake in AON in the 1st quarter worth approximately $28,000. HHM Wealth Advisors LLC lifted its stake in shares of AON by 54.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 29 shares during the period. Tsfg LLC purchased a new stake in AON during the first quarter worth $37,000. Garde Capital Inc. acquired a new stake in AON during the first quarter valued at $42,000. Finally, Meeder Asset Management Inc. increased its holdings in AON by 111.3% in the first quarter. Meeder Asset Management Inc. now owns 112 shares of the financial services provider's stock valued at $45,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Stock Performance

AON opened at $360.69 on Tuesday. The firm has a market capitalization of $77.77 billion, a PE ratio of 30.21, a PEG ratio of 2.10 and a beta of 0.83. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a twelve month low of $322.95 and a twelve month high of $412.97. The firm's 50-day moving average price is $358.14 and its 200 day moving average price is $370.79.

AON (NYSE:AON - Get Free Report) last issued its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%. The business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same period in the previous year, the firm posted $2.93 EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.745 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.8%. AON's payout ratio is presently 24.96%.

Wall Street Analysts Forecast Growth

AON has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on AON from $394.00 to $409.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Barclays reissued an "overweight" rating and issued a $420.00 price objective (up from $401.00) on shares of AON in a report on Thursday. Evercore ISI upped their target price on AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Jefferies Financial Group raised shares of AON from a "hold" rating to a "buy" rating and lifted their price target for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group upgraded shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 price objective for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $409.21.

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.

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