Aon plc (NYSE:AON) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in shares of Aon plc (NYSE:AON) by 5,232.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,022 shares of the financial services provider’s stock after purchasing an additional 204,121 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of AON worth $61,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AON. Gryphon Financial Partners LLC boosted its stake in shares of AON by 262.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock worth $1,181,000 after buying an additional 2,989 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of AON by 10.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 76,853 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 6,962 shares during the period. Clearbridge Investments LLC acquired a new position in shares of AON in the 4th quarter valued at $392,000. Assetmark Inc. boosted its holdings in AON by 17.6% during the fourth quarter. Assetmark Inc. now owns 5,945 shares of the financial services provider’s stock worth $1,730,000 after buying an additional 888 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in AON by 23.7% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 4,556 shares of the financial services provider’s stock valued at $1,326,000 after buying an additional 873 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Performance

Shares of AON stock opened at $347.03 on Friday. The business’s 50 day moving average price is $330.75 and its 200 day moving average price is $311.39. The company has a market cap of $75.46 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.26 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. Aon plc has a one year low of $268.06 and a one year high of $353.54.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the firm earned $2.76 EPS. The firm’s revenue was up 18.4% on a year-over-year basis. On average, research analysts predict that Aon plc will post 15.23 EPS for the current year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, August 1st. AON’s payout ratio is presently 21.16%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AON. JPMorgan Chase & Co. increased their target price on shares of AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Barclays started coverage on AON in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Piper Sandler upped their price objective on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $313.00 to $380.00 in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $337.27.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.