Canandaigua National Bank & Trust Co. Increases Stock Position in Aon plc (NYSE:AON)

Canandaigua National Bank & Trust Co. boosted its stake in Aon plc (NYSE:AON - Free Report) by 33.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,241 shares of the financial services provider's stock after purchasing an additional 1,304 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in AON were worth $2,092,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its position in shares of AON by 196.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,416 shares of the financial services provider's stock valued at $868,000 after buying an additional 1,600 shares during the last quarter. QRG Capital Management Inc. grew its position in AON by 16.2% during the 4th quarter. QRG Capital Management Inc. now owns 7,528 shares of the financial services provider's stock worth $2,704,000 after acquiring an additional 1,052 shares during the last quarter. SVB Wealth LLC bought a new stake in AON during the 4th quarter worth $567,000. Fisher Asset Management LLC acquired a new position in shares of AON in the fourth quarter worth approximately $215,000. Finally, Metis Global Partners LLC lifted its stake in shares of AON by 16.7% in the fourth quarter. Metis Global Partners LLC now owns 9,944 shares of the financial services provider's stock worth $3,571,000 after acquiring an additional 1,421 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Trading Down 1.5%

Shares of NYSE:AON traded down $5.31 during trading on Wednesday, reaching $351.62. 655,368 shares of the company traded hands, compared to its average volume of 1,157,147. The firm has a market capitalization of $75.93 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 2.13 and a beta of 0.84. Aon plc has a 52-week low of $291.72 and a 52-week high of $412.97. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.26. The business's fifty day moving average is $357.88 and its 200-day moving average is $370.85.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing analysts' consensus estimates of $6.04 by ($0.37). AON had a return on equity of 52.71% and a net margin of 15.58%. The business had revenue of $4.73 billion during the quarter, compared to analysts' expectations of $4.83 billion. During the same period in the previous year, the business earned $5.66 EPS. The business's revenue was up 16.2% compared to the same quarter last year. As a group, analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.745 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.98 annualized dividend and a yield of 0.85%. This is a positive change from AON's previous quarterly dividend of $0.68. AON's dividend payout ratio (DPR) is currently 25.38%.

Analyst Upgrades and Downgrades

AON has been the subject of several recent research reports. Barclays decreased their price objective on AON from $430.00 to $415.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Redburn Atlantic upgraded AON to a "hold" rating in a report on Tuesday, March 25th. Jefferies Financial Group boosted their price objective on AON from $396.00 to $416.00 and gave the company a "hold" rating in a report on Friday, April 11th. Redburn Partners set a $445.00 price objective on AON in a research note on Tuesday, March 25th. Finally, Piper Sandler raised AON from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $384.00 to $378.00 in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $397.27.

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.