Pitcairn Co. Trims Stock Position in Aon plc (NYSE:AON)

Pitcairn Co. reduced its stake in shares of Aon plc (NYSE:AON) by 3.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,118 shares of the financial services provider’s stock after selling 66 shares during the period. Pitcairn Co.’s holdings in AON were worth $733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cerity Partners LLC lifted its holdings in AON by 56.6% in the third quarter. Cerity Partners LLC now owns 36,994 shares of the financial services provider’s stock valued at $12,799,000 after acquiring an additional 13,373 shares during the period. Great Valley Advisor Group Inc. acquired a new position in shares of AON in the third quarter worth about $288,000. Waddell & Associates LLC acquired a new stake in shares of AON during the 3rd quarter valued at about $218,000. Camden National Bank purchased a new position in shares of AON in the 3rd quarter valued at about $242,000. Finally, Nwam LLC acquired a new position in AON in the 3rd quarter worth about $379,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AON shares. Evercore ISI upped their target price on AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. BMO Capital Markets increased their price objective on shares of AON from $325.00 to $380.00 and gave the company a “market perform” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their target price on shares of AON from $344.00 to $365.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised their price target on shares of AON from $345.00 to $375.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, Barclays increased their target price on AON from $394.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $362.06.

AON Stock Performance

Shares of AON stock opened at $386.21 on Monday. The company has a market cap of $83.53 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 2.42 and a beta of 0.91. Aon plc has a 12-month low of $268.06 and a 12-month high of $389.21. The stock has a 50 day simple moving average of $362.45 and a 200-day simple moving average of $327.94. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 2.66.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, November 1st. AON’s dividend payout ratio is currently 22.78%.

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.