Aon plc $AON Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Aon plc (NYSE:AON) by 48.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 683,556 shares of the financial services provider’s stock after selling 652,739 shares during the period. Mackenzie Financial Corp owned approximately 0.32% of AON worth $243,865,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in shares of AON during the 1st quarter worth $31,000. HHM Wealth Advisors LLC lifted its holdings in shares of AON by 54.7% during the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 29 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of AON in the 2nd quarter valued at $31,000. Trust Co. of Toledo NA OH purchased a new position in AON in the 2nd quarter worth about $32,000. Finally, Pinnacle Bancorp Inc. raised its holdings in AON by 56.9% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock worth $32,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Up 0.4%

NYSE AON opened at $354.14 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. Aon plc has a 1-year low of $323.73 and a 1-year high of $412.97. The firm’s fifty day simple moving average is $349.21 and its 200-day simple moving average is $357.14. The company has a market capitalization of $76.12 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86.

AON (NYSE:AON) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm earned $2.72 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a $0.745 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. AON’s dividend payout ratio is currently 23.88%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wolfe Research initiated coverage on shares of AON in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Weiss Ratings upgraded shares of AON from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Wells Fargo & Company reduced their target price on AON from $451.00 to $448.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Evercore ISI lifted their price target on AON from $427.00 to $435.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, Morgan Stanley raised AON from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $385.00 to $430.00 in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AON currently has an average rating of “Moderate Buy” and an average target price of $416.56.

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.