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M&T Bank Corp Purchases 1,609 Shares of Aon plc (NYSE:AON)

AON logo with Finance background

M&T Bank Corp lifted its stake in shares of Aon plc (NYSE:AON - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,854 shares of the financial services provider's stock after purchasing an additional 1,609 shares during the period. M&T Bank Corp's holdings in AON were worth $12,314,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AON. Steward Partners Investment Advisory LLC grew its holdings in AON by 29.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,807 shares of the financial services provider's stock valued at $649,000 after buying an additional 408 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of AON by 20.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,088 shares of the financial services provider's stock worth $391,000 after buying an additional 181 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in AON in the fourth quarter valued at about $460,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in AON by 27.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,548 shares of the financial services provider's stock valued at $34,676,000 after purchasing an additional 20,942 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in AON by 7.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,890 shares of the financial services provider's stock valued at $9,658,000 after purchasing an additional 1,893 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on AON from $396.00 to $416.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Piper Sandler raised AON from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $384.00 to $378.00 in a research note on Monday, April 28th. Redburn Partners set a $445.00 target price on AON in a research note on Tuesday, March 25th. Barclays decreased their target price on AON from $415.00 to $401.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Keefe, Bruyette & Woods decreased their target price on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $396.33.

View Our Latest Stock Report on AON

AON Trading Up 0.4%

Shares of AON stock opened at $354.68 on Wednesday. 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 stock has a fifty day simple moving average of $358.02 and a 200 day simple moving average of $370.74. Aon plc has a 12-month low of $292.45 and a 12-month high of $412.97. The company has a market capitalization of $76.59 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.84.

AON (NYSE:AON - Get Free Report) last announced its earnings results on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing the consensus estimate of $6.04 by ($0.37). AON had a net margin of 15.58% and a return on equity of 52.71%. The firm had revenue of $4.73 billion during the quarter, compared to analysts' expectations of $4.83 billion. During the same quarter in the prior year, the company earned $5.66 EPS. The business's revenue for the quarter was up 16.2% on a year-over-year basis. On average, sell-side analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.745 per share. This is a positive change from AON's previous quarterly dividend of $0.68. This represents a $2.98 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, May 1st. AON's dividend payout ratio (DPR) is 25.38%.

About AON

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aon plc (NYSE:AON - Free Report).

Institutional Ownership by Quarter for AON (NYSE:AON)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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