Canoe Financial LP Has $30.98 Million Stake in Aon plc $AON

Key Points

• Canoe Financial LP increased its stake in Aon plc by 3.8% during the second quarter, owning a total of 86,829 shares valued at approximately $30.98 million.
• Aon reported earnings of $3.49 per share for the last quarter, exceeding analysts' expectations and showing a 10.5% increase in year-over-year revenue.
• The company announced a quarterly dividend of $0.745 per share, with a current dividend yield of 0.8% and a payout ratio of 24.96%.

Canoe Financial LP lifted its stake in shares of Aon plc (NYSE:AON - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,829 shares of the financial services provider's stock after acquiring an additional 3,150 shares during the quarter. Canoe Financial LP's holdings in AON were worth $30,977,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AON. Relyea Zuckerberg Hanson LLC boosted its position in AON by 1.9% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,427 shares of the financial services provider's stock worth $570,000 after acquiring an additional 27 shares during the period. Brighton Jones LLC boosted its position in AON by 0.4% during the first quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock valued at $2,916,000 after purchasing an additional 29 shares during the last quarter. HHM Wealth Advisors LLC boosted its stake in shares of AON by 54.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock worth $33,000 after acquiring an additional 29 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of AON by 2.6% during the 1st quarter. Catalyst Financial Partners LLC now owns 1,200 shares of the financial services provider's stock worth $479,000 after acquiring an additional 30 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its position in shares of AON by 1.8% during the 2nd quarter. Sunflower Bank N.A. now owns 1,675 shares of the financial services provider's stock worth $598,000 after purchasing an additional 30 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

AON Stock Down 0.6%

Shares of NYSE:AON traded down $1.95 during midday trading on Tuesday, reaching $351.51. The company had a trading volume of 448,499 shares, compared to its average volume of 1,315,077. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. The stock has a market cap of $75.80 billion, a PE ratio of 29.45, a P/E/G ratio of 2.08 and a beta of 0.87. The business's 50 day moving average price is $363.80 and its 200 day moving average price is $366.02. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97.

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

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.745 per share. The ex-dividend date was Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.8%. AON's dividend payout ratio is presently 24.96%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AON. Evercore ISI upped their price target on AON from $411.00 to $421.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Cantor Fitzgerald raised AON to a "strong-buy" rating in a report on Wednesday, August 13th. Morgan Stanley raised AON from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $385.00 to $430.00 in a report on Thursday, September 11th. Wells Fargo & Company reissued an "overweight" rating and issued a $438.00 target price (up from $436.00) on shares of AON in a report on Thursday, July 10th. Finally, Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and increased their target price for the stock from $400.00 to $426.00 in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $414.69.

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.