Principal Financial Group Inc. Sells 634,688 Shares of Aon plc (NYSE:AON)

Principal Financial Group Inc. lowered its position in Aon plc (NYSE:AON - Free Report) by 71.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 254,481 shares of the financial services provider's stock after selling 634,688 shares during the period. Principal Financial Group Inc. owned 0.12% of AON worth $88,048,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd purchased a new position in shares of AON during the second quarter valued at approximately $31,000. Eastern Bank bought a new stake in AON in the third quarter worth $43,000. Nemes Rush Group LLC purchased a new stake in shares of AON in the second quarter worth $45,000. Bruce G. Allen Investments LLC raised its position in shares of AON by 52.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider's stock worth $49,000 after purchasing an additional 58 shares during the last quarter. Finally, LRI Investments LLC bought a new position in AON in the 1st quarter worth about $55,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company raised shares of AON from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $315.00 to $377.00 in a report on Monday, October 28th. Piper Sandler upped their price objective on AON from $312.00 to $335.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Bank of America lifted their target price on AON from $345.00 to $375.00 and gave the stock an "underperform" rating in a report on Thursday, October 10th. TD Cowen upped their price target on AON from $413.00 to $432.00 in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on AON from $385.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $359.19.

AON Stock Performance

NYSE AON traded up $3.91 during trading hours on Friday, hitting $383.78. 776,804 shares of the company's stock traded hands, compared to its average volume of 1,174,945. Aon plc has a 52 week low of $268.06 and a 52 week high of $389.21. The firm has a market capitalization of $83.00 billion, a P/E ratio of 32.39, a P/E/G ratio of 2.39 and a beta of 0.91. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 2.66. The business's fifty day moving average price is $355.63 and its two-hundred day moving average price is $321.01.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, November 1st. AON's payout ratio is 22.78%.

AON Company 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.