Toronto Dominion Bank Cuts Stake in Aon plc (NYSE:AON)

Toronto Dominion Bank lowered its position in Aon plc (NYSE:AON) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,094 shares of the financial services provider’s stock after selling 14,995 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of AON worth $38,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in AON in the fourth quarter worth approximately $25,000. Frazier Financial Advisors LLC bought a new stake in AON in the fourth quarter valued at approximately $31,000. Rise Advisors LLC bought a new stake in AON in the first quarter valued at approximately $37,000. Turtle Creek Wealth Advisors LLC bought a new stake in AON in the fourth quarter valued at approximately $43,000. Finally, First United Bank & Trust bought a new stake in AON in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Trading Up 7.9 %

AON traded up $23.68 during trading on Friday, reaching $322.63. The stock had a trading volume of 3,070,446 shares, compared to its average volume of 1,298,880. The stock’s 50 day moving average is $292.59 and its two-hundred day moving average is $302.59. The company has a market capitalization of $70.15 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 1.98 and a beta of 0.91. Aon plc has a one year low of $268.06 and a one year high of $344.68.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.16). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the company posted $2.76 EPS. AON’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities research analysts predict that Aon plc will post 15.41 earnings per share for the current year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.675 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.84%. AON’s dividend payout ratio is currently 21.16%.

Insider Transactions at AON

In related news, Director Lester B. Knight bought 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the purchase, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AON shares. Wells Fargo & Company lowered their price objective on AON from $289.00 to $287.00 and set an “underweight” rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their price objective on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their price objective on AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of AON in a report on Tuesday, June 18th. Finally, Piper Sandler decreased their target price on AON from $326.00 to $312.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, AON has a consensus rating of “Hold” and a consensus target price of $321.36.

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.