Bank of New York Mellon Corp reduced its holdings in Aon plc (NYSE:AON – Free Report) by 4.5% during the 1st quarter, HoldingsChannel reports. The firm owned 3,321,092 shares of the financial services provider’s stock after selling 157,969 shares during the quarter. Bank of New York Mellon Corp’s holdings in AON were worth $1,071,982,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in AON during the fourth quarter worth $4,305,000. SG Americas Securities LLC raised its stake in shares of AON by 1,640.4% in the 4th quarter. SG Americas Securities LLC now owns 143,163 shares of the financial services provider’s stock valued at $50,519,000 after buying an additional 134,937 shares in the last quarter. Aviva PLC lifted its holdings in shares of AON by 2.0% during the 4th quarter. Aviva PLC now owns 333,454 shares of the financial services provider’s stock worth $117,669,000 after acquiring an additional 6,622 shares during the period. TABR Capital Management LLC acquired a new stake in shares of AON during the 4th quarter valued at about $1,278,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in AON by 21.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,552 shares of the financial services provider’s stock valued at $13,251,000 after acquiring an additional 6,509 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.
AON Stock Performance
NYSE AON opened at $355.23 on Thursday. Aon plc has a 1-year low of $304.59 and a 1-year high of $381.00. The company has a 50 day moving average of $330.02 and a 200-day moving average of $330.86. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm has a market cap of $75.87 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.89 and a beta of 0.71.
AON Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s dividend payout ratio is presently 18.00%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Citigroup raised their price target on shares of AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. UBS Group upped their price objective on AON from $360.00 to $383.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Barclays increased their target price on AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Cantor Fitzgerald boosted their price target on AON from $416.00 to $445.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Mizuho upped their price target on AON from $389.00 to $426.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AON has a consensus rating of “Moderate Buy” and a consensus target price of $404.56.
Read Our Latest Stock Analysis on AON
Insider Activity at AON
In other news, General Counsel Darren Zeidel sold 600 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total value of $216,000.00. Following the completion of the sale, the general counsel directly owned 15,354 shares in the company, valued at approximately $5,527,440. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.
AON Profile
Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.
In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.
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