Investment Management Corp of Ontario raised its stake in shares of Aon plc (NYSE:AON - Free Report) by 47.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,496 shares of the financial services provider's stock after buying an additional 2,100 shares during the period. Investment Management Corp of Ontario's holdings in AON were worth $2,248,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd purchased a new position in shares of AON during the 2nd quarter worth $31,000. First Personal Financial Services purchased a new stake in AON in the third quarter worth about $37,000. RPg Family Wealth Advisory LLC bought a new position in shares of AON in the third quarter worth about $42,000. Eastern Bank bought a new position in shares of AON during the 3rd quarter valued at approximately $43,000. Finally, Nemes Rush Group LLC purchased a new stake in AON in the 2nd quarter worth approximately $45,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, insider Lisa Stevens sold 1,275 shares of AON stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $387.68, for a total transaction of $494,292.00. Following the completion of the transaction, the insider now directly owns 8,077 shares of the company's stock, valued at $3,131,291.36. The trade was a 13.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mindy F. Simon sold 650 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $394.34, for a total transaction of $256,321.00. Following the sale, the chief operating officer now owns 1,816 shares in the company, valued at approximately $716,121.44. This represents a 26.36 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AON. Wells Fargo & Company raised shares of AON from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $315.00 to $377.00 in a research note on Monday, October 28th. BMO Capital Markets boosted their price target on shares of AON from $325.00 to $380.00 and gave the stock a "market perform" rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods boosted their price objective on AON from $385.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Jefferies Financial Group raised their price target 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. Finally, Barclays increased their price objective on AON from $394.00 to $440.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $362.06.
Get Our Latest Stock Analysis on AON
AON Stock Performance
AON stock traded down $2.27 during mid-day trading on Thursday, reaching $379.73. 851,258 shares of the company traded hands, compared to its average volume of 1,169,807. The company has a debt-to-equity ratio of 2.66, a current ratio of 2.05 and a quick ratio of 2.05. The firm's fifty day moving average is $369.65 and its two-hundred day moving average is $333.55. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $395.33. The company has a market capitalization of $82.12 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.91.
AON Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.675 dividend. The ex-dividend date was Friday, November 1st. This represents a $2.70 annualized dividend and a yield of 0.71%. AON's dividend payout ratio (DPR) is presently 22.78%.
About AON
(
Free Report)
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.
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