Mackenzie Financial Corp Trims Stock Position in Aon plc (NYSE:AON)

Mackenzie Financial Corp trimmed its holdings in shares of Aon plc (NYSE:AON - Free Report) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,498,753 shares of the financial services provider's stock after selling 114,668 shares during the quarter. Mackenzie Financial Corp owned 0.69% of AON worth $538,292,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. boosted its stake in shares of AON by 2,025.0% in the 4th quarter. Richardson Financial Services Inc. now owns 85 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 81 shares during the last quarter. Millstone Evans Group LLC acquired a new position in AON during the fourth quarter worth $32,000. Centricity Wealth Management LLC acquired a new position in AON during the fourth quarter worth $39,000. Kestra Investment Management LLC acquired a new position in AON during the fourth quarter worth $39,000. Finally, R Squared Ltd acquired a new position in AON during the fourth quarter worth $43,000. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of AON from $394.00 to $409.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Evercore ISI lowered their target price on shares of AON from $420.00 to $398.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Jefferies Financial Group increased 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. Finally, Royal Bank of Canada increased their target price on shares of AON from $390.00 to $400.00 and gave the company a "sector perform" rating in a report on Monday, February 3rd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $397.27.

AON Stock Performance

AON stock traded up $8.57 during mid-day trading on Tuesday, hitting $365.11. The company had a trading volume of 1,076,857 shares, compared to its average volume of 1,197,618. The firm has a market cap of $78.84 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.40 and a current ratio of 1.40. Aon plc has a 12 month low of $275.07 and a 12 month high of $412.97. The stock's fifty day moving average price is $368.83 and its two-hundred day moving average price is $374.55.

AON (NYSE:AON - Get Free Report) last posted its earnings results on Friday, April 25th. The financial services provider reported $5.67 earnings per share for the quarter, missing the consensus estimate of $6.04 by ($0.37). The business had revenue of $4.73 billion during the quarter, compared to analysts' expectations of $4.83 billion. AON had a return on equity of 70.84% and a net margin of 16.91%. AON's revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.66 EPS. On average, analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.745 per share. The ex-dividend date was Thursday, May 1st. This represents a $2.98 annualized dividend and a yield of 0.82%. This is a boost from AON's previous quarterly dividend of $0.68. AON's payout ratio is currently 25.38%.

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.