Canandaigua National Bank & Trust Co. Buys New Holdings in Aon plc $AON

Key Points

• Canandaigua National Bank & Trust acquired 3,540 shares of Aon valued at approximately $1.17 million. Institutional investors collectively own 86.14% of the company.
• Aon reported quarterly EPS of $3.81, slightly exceeding estimates, while revenue reached $4.25 billion and rose 2.2% year over year. Analysts expect full-year EPS of $19.06.
• Aon declared a quarterly dividend of $0.82 per share, or $3.28 annually, yielding about 0.9%. The stock has a “Moderate Buy” consensus rating with an average analyst price target of $410.75.

Canandaigua National Bank & Trust Co. acquired a new stake in Aon plc (NYSE:AON - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,540 shares of the financial services provider's stock, valued at approximately $1,174,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aviva PLC grew its stake in shares of AON by 2.0% in the 4th quarter. Aviva PLC now owns 333,454 shares of the financial services provider's stock worth $117,669,000 after buying an additional 6,622 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in AON by 21.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,552 shares of the financial services provider's stock worth $13,251,000 after acquiring an additional 6,509 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of AON by 9.1% in the fourth quarter. Handelsbanken Fonder AB now owns 67,034 shares of the financial services provider's stock worth $23,655,000 after buying an additional 5,585 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in AON by 1,864.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 343,754 shares of the financial services provider's stock worth $121,304,000 after acquiring an additional 326,256 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new stake in shares of AON in the fourth quarter worth approximately $1,359,000. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Stock Up 0.8%

AON opened at $359.40 on Thursday. The business's fifty day simple moving average is $343.43 and its 200 day simple moving average is $332.22. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. The firm has a market cap of $76.24 billion, a P/E ratio of 19.81, a PEG ratio of 1.84 and a beta of 0.69. Aon plc has a 52 week low of $304.59 and a 52 week high of $382.34.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.01. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%.The firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.49 earnings per share. As a group, equities research analysts anticipate that Aon plc will post 19.06 EPS for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON's payout ratio is 18.08%.

Insider Buying and Selling at AON

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the sale, the general counsel directly owned 11,504 shares in the company, valued at approximately $4,345,751.04. The trade was a 14.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,450 shares of company stock worth $1,659,242 over the last quarter. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of AON from $400.00 to $412.00 and gave the company an "outperform" rating in a report on Tuesday. Barclays upped their target price on shares of AON from $372.00 to $382.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Cantor Fitzgerald increased their price objective on shares of AON from $416.00 to $445.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Morgan Stanley upped their price target on AON from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Finally, Wall Street Zen lowered shares of AON from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $410.75.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

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