Mackenzie Financial Corp Reduces Stake in Aon plc (NYSE:AON)

Key Points

• Mackenzie Financial Corp has reduced its stake in Aon plc by 10.8%, owning 1,336,295 shares worth approximately $533 million as of its latest SEC filing.
• A number of institutional investors increased their holdings in Aon, with LPL Financial LLC raising its stake by 9.0% and Pictet Asset Management by 6.3% during the fourth quarter.
• Aon recently announced a quarterly dividend of $0.745, with a yield of 0.80% and a dividend payout ratio of 24.96%.

Mackenzie Financial Corp reduced its position in Aon plc (NYSE:AON - Free Report) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,336,295 shares of the financial services provider's stock after selling 162,458 shares during the period. Mackenzie Financial Corp owned approximately 0.62% of AON worth $533,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AON. LPL Financial LLC raised its holdings in AON by 9.0% in the 4th quarter. LPL Financial LLC now owns 68,425 shares of the financial services provider's stock worth $24,576,000 after purchasing an additional 5,660 shares during the period. Pictet Asset Management Holding SA raised its holdings in AON by 6.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 142,182 shares of the financial services provider's stock worth $51,066,000 after purchasing an additional 8,399 shares during the period. DnB Asset Management AS raised its holdings in AON by 4.4% in the 4th quarter. DnB Asset Management AS now owns 35,274 shares of the financial services provider's stock worth $12,669,000 after purchasing an additional 1,493 shares during the period. Allstate Corp bought a new position in AON in the 4th quarter worth $2,129,000. Finally, Intrust Bank NA raised its holdings in AON by 12.9% in the 4th quarter. Intrust Bank NA now owns 780 shares of the financial services provider's stock worth $280,000 after purchasing an additional 89 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AON has been the topic of a number of recent research reports. Barclays decreased their target price on AON from $415.00 to $401.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. JPMorgan Chase & Co. raised their price target on AON from $394.00 to $409.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Wells Fargo & Company reissued an "overweight" rating and set a $438.00 price target (up from $436.00) on shares of AON in a report on Thursday, July 10th. Evercore ISI decreased their price target on AON from $420.00 to $398.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their price target on AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $403.00.

AON Trading Up 4.5%

Shares of AON stock opened at $372.71 on Monday. Aon plc has a 12-month low of $304.12 and a 12-month high of $412.97. The company has a current ratio of 1.52, a quick ratio of 1.73 and a debt-to-equity ratio of 1.93. The stock's 50-day moving average price is $358.28 and its 200-day moving average price is $370.90. The stock has a market capitalization of $80.48 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

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

AON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $0.745 dividend. The ex-dividend date is Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.80%. AON's dividend payout ratio is currently 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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