Jennison Associates LLC lessened its holdings in shares of Aon plc (NYSE:AON) by 54.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,941 shares of the financial services provider’s stock after selling 3,573 shares during the quarter. Jennison Associates LLC’s holdings in AON were worth $840,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AON. Mascoma Wealth Management LLC acquired a new position in shares of AON in the 3rd quarter worth approximately $26,000. Jones Financial Companies Lllp grew its position in shares of AON by 286.7% in the 2nd quarter. Jones Financial Companies Lllp now owns 116 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 86 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of AON in the 3rd quarter worth approximately $37,000. AdvisorNet Financial Inc acquired a new position in shares of AON in the 3rd quarter worth approximately $43,000. Finally, Archer Investment Corp acquired a new position in shares of AON in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 89.95% of the company’s stock.
Shares of AON stock opened at $273.45 on Friday. The stock’s fifty day simple moving average is $294.62 and its 200-day simple moving average is $283.67. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.59. Aon plc has a 1-year low of $202.32 and a 1-year high of $326.25. The company has a market capitalization of $60.25 billion, a price-to-earnings ratio of 69.40 and a beta of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Tuesday, February 1st will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, January 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.75%. AON’s dividend payout ratio is currently 51.78%.
Several brokerages have recently commented on AON. Royal Bank of Canada lifted their target price on AON from $275.00 to $320.00 and gave the stock a “sector perform” rating in a research report on Monday, November 1st. They noted that the move was a valuation call. Jefferies Financial Group began coverage on AON in a research note on Thursday, November 18th. They set a “hold” rating and a $313.00 target price on the stock. Atlantic Securities downgraded AON from an “overweight” rating to a “neutral” rating and set a $320.00 price objective on the stock. in a research note on Thursday, November 4th. They noted that the move was a valuation call. Evercore ISI downgraded AON from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $288.00 to $292.00 in a research note on Thursday, January 6th. Finally, JPMorgan Chase & Co. downgraded AON from an “overweight” rating to a “neutral” rating and set a $283.00 price objective on the stock. in a research note on Monday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, AON presently has an average rating of “Hold” and a consensus price target of $301.56.
In related news, General Counsel Darren Zeidel sold 197 shares of the business’s stock in a transaction dated Thursday, December 23rd. The stock was sold at an average price of $295.00, for a total transaction of $58,115.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Byron Spruell acquired 200 shares of the business’s stock in a transaction that occurred on Tuesday, November 23rd. The shares were acquired at an average cost of $296.32 per share, with a total value of $59,264.00. The disclosure for this purchase can be found here. 0.99% of the stock is owned by insiders.
Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.
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