Canandaigua National Bank & Trust Co. Has $1.81 Million Stake in Aon plc (NYSE:AON)

Canandaigua National Bank & Trust Co. raised its holdings in Aon plc (NYSE:AON) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,412 shares of the financial services provider’s stock after acquiring an additional 619 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in AON were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cubic Asset Management LLC acquired a new position in AON during the fourth quarter valued at approximately $1,050,000. Charles Schwab Investment Management Inc. boosted its position in AON by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the financial services provider’s stock valued at $307,989,000 after purchasing an additional 5,727 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in AON by 262.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 2,989 shares during the period. Cerity Partners LLC raised its stake in AON by 177.4% in the fourth quarter. Cerity Partners LLC now owns 18,461 shares of the financial services provider’s stock valued at $5,372,000 after buying an additional 11,806 shares during the period. Finally, California State Teachers Retirement System raised its stake in AON by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 331,760 shares of the financial services provider’s stock valued at $96,549,000 after buying an additional 4,843 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AON

In related news, Director Lester B. Knight acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $276.61 per share, with a total value of $2,766,100.00. Following the acquisition, the director now owns 139,000 shares of the company’s stock, valued at approximately $38,448,790. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.15% of the company’s stock.

Analysts Set New Price Targets

AON has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. increased their target price on AON from $318.00 to $353.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of AON in a research note on Tuesday. Finally, Wells Fargo & Company lowered their target price on AON from $300.00 to $289.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $321.86.

AON Price Performance

Shares of NYSE AON traded down $1.84 during mid-day trading on Tuesday, hitting $298.17. 472,207 shares of the stock traded hands, compared to its average volume of 1,245,020. Aon plc has a twelve month low of $268.06 and a twelve month high of $347.37. The company has a market cap of $64.83 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.96 and a beta of 0.91. The firm has a 50 day simple moving average of $292.26 and a two-hundred day simple moving average of $304.34.

AON (NYSE:AON) last released its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing the consensus estimate of $5.86 by ($0.20). The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $5.17 EPS. On average, equities research analysts anticipate that Aon plc will post 15.48 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This is a positive change from AON’s previous quarterly dividend of $0.62. This represents a $2.70 annualized dividend and a dividend yield of 0.91%. AON’s dividend payout ratio (DPR) is 21.16%.

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.