Canada Pension Plan Investment Board Increases Stock Holdings in Aon plc $AON

Key Points

• The Canada Pension Plan Investment Board increased its stake in Aon plc by 19.4%, owning a total of 35,024 shares valued at approximately $13.98 million.
• Several analysts have raised their price targets for Aon, with Piper Sandler increasing it from $393 to $413 and Jefferies Financial Group raising it to $426, indicating a positive outlook on the stock.
• Aon recently announced a quarterly dividend of $0.745 per share, representing an annualized dividend of $2.98 and a yield of 0.8%.

Canada Pension Plan Investment Board lifted its stake in shares of Aon plc (NYSE:AON - Free Report) by 19.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,024 shares of the financial services provider's stock after buying an additional 5,693 shares during the quarter. Canada Pension Plan Investment Board's holdings in AON were worth $13,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new stake in AON during the first quarter worth about $28,000. HHM Wealth Advisors LLC raised its holdings in shares of AON by 54.7% during the first 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 last quarter. Tsfg LLC purchased a new stake in AON during the first quarter valued at $37,000. Accent Capital Management LLC purchased a new position in shares of AON in the first quarter worth approximately $40,000. Finally, Garde Capital Inc. purchased a new stake in shares of AON in the 1st quarter worth $42,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AON shares. 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. Jefferies Financial Group raised shares of AON from a "hold" rating to a "buy" rating and raised their target price for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. Barclays reiterated an "overweight" rating and issued a $420.00 target price (up previously from $401.00) on shares of AON in a report on Thursday, July 31st. Morgan Stanley restated a "cautious" rating on shares of AON in a research report on Monday, August 18th. Finally, Citigroup began coverage on shares of AON in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $402.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $412.69.

AON Stock Performance

AON opened at $367.16 on Tuesday. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. 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 market capitalization of $79.17 billion, a PE ratio of 30.75, a P/E/G ratio of 2.17 and a beta of 0.87. The firm has a 50 day moving average of $361.23 and a two-hundred day moving average of $369.61.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 earnings per share 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 business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the business posted $2.93 EPS. The company's revenue was up 10.5% on a year-over-year basis. On average, analysts anticipate that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.745 per share. The ex-dividend date was Friday, August 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. AON's dividend payout ratio (DPR) is 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.

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