MAI Capital Management Lowers Position in Aon plc (NYSE:AON)

MAI Capital Management lessened its stake in Aon plc (NYSE:AON) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,954 shares of the financial services provider’s stock after selling 544 shares during the period. MAI Capital Management’s holdings in AON were worth $3,098,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd purchased a new stake in AON in the 2nd quarter worth approximately $31,000. First Personal Financial Services acquired a new position in shares of AON during the 3rd quarter worth approximately $37,000. Eastern Bank acquired a new position in shares of AON during the 3rd quarter worth approximately $43,000. Nemes Rush Group LLC acquired a new position in AON in the 2nd quarter valued at $45,000. Finally, Bruce G. Allen Investments LLC raised its stake in AON by 52.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AON. Jefferies Financial Group increased their price objective on AON from $344.00 to $365.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. TD Cowen increased their price objective on AON from $413.00 to $432.00 in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price objective on AON from $385.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler increased their price objective on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. One research 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. According to data from MarketBeat.com, AON presently has a consensus rating of “Hold” and an average target price of $359.19.

AON Stock Performance

NYSE AON opened at $379.16 on Wednesday. The stock has a market cap of $82.00 billion, a PE ratio of 32.00, a P/E/G ratio of 2.38 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. Aon plc has a twelve month low of $268.06 and a twelve month high of $389.21. The stock has a fifty day simple moving average of $360.28 and a 200-day simple moving average of $325.88.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, November 1st. AON’s dividend payout ratio is presently 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.