National Bank of Canada FI Has $84.52 Million Position in Aon plc (NYSE:AON)

Key Points

• National Bank of Canada FI has reduced its stake in Aon plc by 16.8%, now holding approximately $84.52 million worth of shares after selling 42,792 shares in the 1st quarter.
• Aon recently reported an earnings per share (EPS) of $3.49 which exceeded estimates, with a revenue growth of 10.5% year-over-year, reaching $4.16 billion.
• The company announced a quarterly dividend of $0.745 per share, with an annualized yield of 0.8% and a payout ratio of 24.96%.

National Bank of Canada FI decreased its holdings in shares of Aon plc (NYSE:AON - Free Report) by 16.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,789 shares of the financial services provider's stock after selling 42,792 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of AON worth $84,519,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in AON by 1.3% in the first quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider's stock valued at $7,893,382,000 after acquiring an additional 258,699 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in AON by 18.3% in the first quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider's stock valued at $1,210,864,000 after acquiring an additional 469,238 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in AON by 2.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider's stock valued at $954,053,000 after acquiring an additional 61,350 shares during the last quarter. Northern Trust Corp lifted its stake in AON by 9.3% in the fourth quarter. Northern Trust Corp now owns 2,158,943 shares of the financial services provider's stock valued at $775,406,000 after acquiring an additional 183,442 shares during the last quarter. Finally, WCM Investment Management LLC lifted its stake in AON by 0.3% in the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider's stock valued at $809,544,000 after acquiring an additional 6,038 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AON. Evercore ISI raised their target price on shares of AON from $411.00 to $421.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Piper Sandler raised their target price on shares of AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Barclays reiterated an "overweight" rating and set a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Keefe, Bruyette & Woods reduced their price target on AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $438.00 price objective (up previously from $436.00) on shares of AON in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $409.21.

AON Price Performance

NYSE:AON traded up $1.59 during trading hours on Monday, reaching $367.99. 1,274,729 shares of the company were exchanged, compared to its average volume of 1,414,090. The company has a market capitalization of $79.35 billion, a P/E ratio of 30.82, a P/E/G ratio of 2.17 and a beta of 0.83. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The business has a 50 day moving average of $357.97 and a 200 day moving average of $370.73.

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

AON Dividend Announcement

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

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.