Zurcher Kantonalbank Zurich Cantonalbank Has $36.57 Million Stock Holdings in Aon plc (NYSE:AON)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has reduced its stake in Aon plc by 5.1%, now holding 91,624 shares worth approximately $36.57 million.
• Aon plc reported earnings of $3.49 per share, exceeding analysts' expectations of $3.40, with a revenue of $4.16 billion for the quarter.
• The company declared a quarterly dividend of $0.745, representing an annualized yield of 0.80%, with the ex-dividend date set for August 1st.

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Aon plc (NYSE:AON - Free Report) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,624 shares of the financial services provider's stock after selling 4,924 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in AON were worth $36,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC raised its holdings 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 purchasing an additional 27 shares during the last quarter. Value Partners Investments Inc. raised its position in shares of AON by 1.9% in the 4th quarter. Value Partners Investments Inc. now owns 1,485 shares of the financial services provider's stock valued at $533,000 after acquiring an additional 28 shares during the period. Brighton Jones LLC raised its position in shares of AON by 0.4% in the 1st quarter. Brighton Jones LLC now owns 7,308 shares of the financial services provider's stock valued at $2,916,000 after acquiring an additional 29 shares during the period. Catalyst Financial Partners LLC raised its position in shares of AON by 2.6% in the 1st quarter. Catalyst Financial Partners LLC now owns 1,200 shares of the financial services provider's stock valued at $479,000 after acquiring an additional 30 shares during the period. Finally, Wesbanco Bank Inc. raised its position in shares of AON by 0.3% in the 1st quarter. Wesbanco Bank Inc. now owns 11,940 shares of the financial services provider's stock valued at $4,765,000 after acquiring an additional 31 shares during the period. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AON. Wells Fargo & Company reiterated an "overweight" rating and issued a $438.00 price target (up from $436.00) on shares of AON in a research report on Thursday, July 10th. Piper Sandler increased their target price on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research note on Monday. The Goldman Sachs Group raised AON from a "neutral" rating to a "buy" rating and set a $408.00 target price for the company in a research note on Tuesday, May 13th. 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 research note on Wednesday. Finally, Keefe, Bruyette & Woods lowered 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, AON presently has an average rating of "Moderate Buy" and an average price target of $409.21.

AON Stock Up 0.7%

Shares of NYSE AON traded up $2.67 during trading hours on Thursday, hitting $358.01. The company had a trading volume of 472,939 shares, compared to its average volume of 1,322,881. The stock has a market capitalization of $77.20 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84. The company has a quick ratio of 1.73, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 1-year low of $322.95 and a 1-year high of $412.97. The firm's 50 day moving average is $358.14 and its 200-day moving average is $370.81.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.40 by $0.09. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $2.93 EPS. On average, analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, August 1st. AON's payout ratio is presently 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.