Bangor Savings Bank Has $931,000 Position in Aon plc (NYSE:AON)

Bangor Savings Bank cut its position in Aon plc (NYSE:AON) by 2.1% during the 1st quarter, HoldingsChannel reports. The firm owned 2,333 shares of the financial services provider’s stock after selling 50 shares during the quarter. Bangor Savings Bank’s holdings in AON were worth $931,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of AON by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,237,784 shares of the financial services provider’s stock worth $444,563,000 after acquiring an additional 31,021 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AON by 27.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,548 shares of the financial services provider’s stock worth $34,676,000 after acquiring an additional 20,942 shares during the period. Aviva PLC grew its position in AON by 19.0% in the fourth quarter. Aviva PLC now owns 255,760 shares of the financial services provider’s stock valued at $91,859,000 after purchasing an additional 40,850 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in AON by 5.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,533 shares of the financial services provider’s stock valued at $9,530,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in AON by 43,000.8% in the fourth quarter. Proficio Capital Partners LLC now owns 390,924 shares of the financial services provider’s stock valued at $140,404,000 after purchasing an additional 390,017 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AON. JPMorgan Chase & Co. raised their target price on shares of AON from $394.00 to $409.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Jefferies Financial Group raised their target price on shares of AON from $396.00 to $416.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on shares of AON from $414.00 to $409.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Barclays cut their target price on shares of AON from $430.00 to $415.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group upgraded shares of AON from a “neutral” rating to a “buy” rating and set a $408.00 target price for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $397.27.

AON Price Performance

Shares of AON stock opened at $371.31 on Friday. Aon plc has a twelve month low of $283.27 and a twelve month high of $412.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.58. The company has a 50-day simple moving average of $364.26 and a two-hundred day simple moving average of $373.90. The stock has a market capitalization of $80.18 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.12 and a beta of 0.86.

AON (NYSE:AON) last issued its earnings results on Friday, April 25th. The financial services provider reported $5.67 EPS for the quarter, missing the consensus estimate of $6.04 by ($0.37). The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.83 billion. AON had a net margin of 16.91% and a return on equity of 70.84%. AON’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.66 earnings per share. Analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.745 per share. The ex-dividend date was Thursday, May 1st. This is a positive change from AON’s previous quarterly dividend of $0.68. This represents a $2.98 annualized dividend and a dividend yield of 0.80%. AON’s payout ratio is 25.38%.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.