Canoe Financial LP Grows Position in Aon plc (NYSE:AON)

Canoe Financial LP increased its position in Aon plc (NYSE:AON - Free Report) by 44.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,679 shares of the financial services provider's stock after acquiring an additional 25,570 shares during the period. Canoe Financial LP's holdings in AON were worth $33,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of AON during the fourth quarter worth about $32,000. Kestra Investment Management LLC purchased a new position in AON during the 4th quarter worth approximately $39,000. Centricity Wealth Management LLC acquired a new stake in AON during the 4th quarter valued at approximately $39,000. Nemes Rush Group LLC acquired a new stake in shares of AON in the fourth quarter worth $55,000. Finally, Orion Capital Management LLC purchased a new position in shares of AON during the fourth quarter worth $63,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

AON Price Performance

NYSE AON traded up $3.99 on Friday, hitting $354.82. The company had a trading volume of 1,775,245 shares, compared to its average volume of 1,158,950. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.73 and a quick ratio of 1.73. The company's fifty day moving average price is $359.85 and its 200-day moving average price is $371.38. The company has a market capitalization of $76.62 billion, a PE ratio of 30.22, a PEG ratio of 2.12 and a beta of 0.86. Aon plc has a 12-month low of $285.35 and a 12-month high of $412.97.

AON (NYSE:AON - Get Free Report) last released its 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). The company had revenue of $4.73 billion for the quarter, compared to analysts' expectations of $4.83 billion. AON had a return on equity of 52.71% and a net margin of 15.58%. The firm's revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.66 EPS. As a group, analysts predict that Aon plc will post 17.21 earnings per share for the current year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.745 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.84%. This is a boost from AON's previous quarterly dividend of $0.68. AON's dividend payout ratio is presently 25.38%.

Analysts Set New Price Targets

Several brokerages have weighed in on AON. Keefe, Bruyette & Woods cut their price target on AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Piper Sandler upgraded AON from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $384.00 to $378.00 in a research note on Monday, April 28th. Redburn Atlantic upgraded AON to a "hold" rating in a research report on Tuesday, March 25th. Barclays lowered their price objective on AON from $430.00 to $415.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group lifted their target price on shares of AON from $396.00 to $416.00 and gave the company a "hold" rating in a report on Friday, April 11th. One investment 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 MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $397.27.

AON Company 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.