iA Global Asset Management Inc. Lowers Position in Aon plc $AON

iA Global Asset Management Inc. cut its stake in shares of Aon plc (NYSE:AON) by 8.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,908 shares of the financial services provider’s stock after selling 166 shares during the quarter. iA Global Asset Management Inc.’s holdings in AON were worth $681,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. purchased a new position in shares of AON in the first quarter valued at about $28,000. Saudi Central Bank purchased a new position in shares of AON in the first quarter valued at about $31,000. Pinnacle Bancorp Inc. lifted its position in shares of AON by 56.9% in the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 33 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of AON in the second quarter valued at about $32,000. Finally, HHM Wealth Advisors LLC lifted its position in shares of AON by 54.7% in the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 29 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays restated an “overweight” rating and issued a $420.00 price objective (up from $401.00) on shares of AON in a research report on Thursday, July 31st. Wolfe Research began coverage on AON in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. TD Cowen decreased their target price on AON from $419.00 to $416.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler boosted their target price on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Jefferies Financial Group upgraded AON from a “hold” rating to a “buy” rating and boosted their target price for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $423.21.

AON Trading Down 0.3%

Shares of NYSE AON opened at $339.63 on Tuesday. The business’s 50 day moving average is $356.07 and its two-hundred day moving average is $358.28. 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 stock has a market capitalization of $73.23 billion, a P/E ratio of 28.44, a PEG ratio of 1.92 and a beta of 0.89.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.14. AON had a return on equity of 50.91% and a net margin of 15.54%.The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm posted $2.72 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 3rd. AON’s payout ratio is presently 23.88%.

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.