Canoe Financial LP Purchases 1,600 Shares of Aon plc (NYSE:AON)

Canoe Financial LP raised its stake in Aon plc (NYSE:AON) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,109 shares of the financial services provider’s stock after purchasing an additional 1,600 shares during the quarter. Canoe Financial LP’s holdings in AON were worth $18,464,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd purchased a new stake in shares of AON in the second quarter worth approximately $31,000. Norden Group LLC purchased a new stake in shares of AON in the first quarter worth approximately $2,044,000. Daiwa Securities Group Inc. increased its position in shares of AON by 14.2% during the first quarter. Daiwa Securities Group Inc. now owns 21,145 shares of the financial services provider’s stock valued at $7,056,000 after acquiring an additional 2,624 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AON by 0.4% during the first quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock valued at $5,894,053,000 after acquiring an additional 64,500 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of AON by 150.4% during the third quarter. Vontobel Holding Ltd. now owns 96,321 shares of the financial services provider’s stock valued at $33,326,000 after acquiring an additional 57,847 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AON has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on AON from $344.00 to $365.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. TD Cowen increased their price target on AON from $413.00 to $432.00 in a research report on Thursday. Bank of America increased their price target on AON from $345.00 to $375.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised AON from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $313.00 to $380.00 in a research report on Tuesday, July 30th. Finally, Evercore ISI raised their target price on AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, AON currently has an average rating of “Hold” and an average target price of $349.69.

AON Price Performance

Shares of AON opened at $375.44 on Monday. The firm has a market cap of $81.56 billion, a PE ratio of 31.68, a P/E/G ratio of 2.43 and a beta of 0.92. The company has a current ratio of 2.05, a quick ratio of 2.42 and a debt-to-equity ratio of 2.66. The firm has a fifty day simple moving average of $349.01 and a two-hundred day simple moving average of $316.66. Aon plc has a 1-year low of $268.06 and a 1-year high of $389.21.

AON (NYSE:AON) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.27. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. AON had a net margin of 16.32% and a return on equity of 107.43%. On average, equities analysts anticipate that Aon plc will post 15.25 EPS for the current year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.675 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.70 dividend on an annualized basis and a yield of 0.72%. AON’s dividend payout ratio is currently 22.78%.

AON Profile

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.