Canandaigua National Bank & Trust Co. Reduces Stock Position in Aon plc (NYSE:AON)

Canandaigua National Bank & Trust Co. lessened its stake in shares of Aon plc (NYSE:AON) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,068 shares of the financial services provider’s stock after selling 911 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in AON were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in AON by 6.8% in the 3rd quarter. Czech National Bank now owns 44,254 shares of the financial services provider’s stock valued at $15,311,000 after buying an additional 2,821 shares during the period. AMF Tjanstepension AB purchased a new stake in AON in the 3rd quarter valued at about $20,856,000. Massmutual Trust Co. FSB ADV grew its holdings in AON by 7.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 536 shares of the financial services provider’s stock valued at $185,000 after buying an additional 37 shares during the period. Abacus Planning Group Inc. grew its holdings in AON by 4.6% in the 3rd quarter. Abacus Planning Group Inc. now owns 1,026 shares of the financial services provider’s stock valued at $355,000 after buying an additional 45 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in AON in the 2nd quarter valued at about $4,867,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AON shares. Piper Sandler lifted their price target on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods upgraded 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 report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Finally, Wells Fargo & Company boosted their target price on AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $337.27.

AON Stock Up 0.2 %

AON stock traded up $0.57 during midday trading on Friday, hitting $348.07. 568,002 shares of the company were exchanged, compared to its average volume of 1,194,502. The company’s fifty day moving average price is $340.11 and its 200-day moving average price is $313.46. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $353.54. The company has a market cap of $75.68 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42.

AON (NYSE:AON) last announced its earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period in the previous year, the company earned $2.76 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, research analysts predict that Aon plc will post 15.22 EPS for the current fiscal year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, August 1st. AON’s payout ratio is 21.16%.

AON Company 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.