Aon plc (NYSE:AON) Stake Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Aon plc (NYSE:AON) by 2.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 26,752 shares of the financial services provider’s stock after selling 666 shares during the period. Mutual of America Capital Management LLC’s holdings in AON were worth $9,256,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Avantax Advisory Services Inc. increased its stake in AON by 5.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 729 shares of the financial services provider’s stock valued at $243,000 after buying an additional 38 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of AON during the first quarter worth $906,000. O Shaughnessy Asset Management LLC boosted its position in AON by 0.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 27,338 shares of the financial services provider’s stock valued at $9,123,000 after purchasing an additional 200 shares during the last quarter. Seven Eight Capital LP increased its position in AON by 13.5% in the 1st quarter. Seven Eight Capital LP now owns 6,516 shares of the financial services provider’s stock worth $2,175,000 after purchasing an additional 774 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC purchased a new stake in shares of AON during the 1st quarter worth about $8,343,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AON has been the topic of a number of research reports. Wells Fargo & Company upgraded 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 report on Monday, October 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $335.00 price objective on shares of AON in a research note on Monday, August 5th. Barclays started coverage on shares of AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 target price on the stock. BMO Capital Markets upped their price target on AON from $325.00 to $380.00 and gave the stock a “market perform” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AON from $311.00 to $353.00 and gave the company a “hold” rating in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $359.19.

AON Stock Performance

AON opened at $379.29 on Monday. Aon plc has a 1 year low of $268.06 and a 1 year high of $389.21. 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 stock’s 50 day simple moving average is $359.12 and its 200-day simple moving average is $324.47. The stock has a market cap of $82.03 billion, a PE ratio of 32.01, a P/E/G ratio of 2.38 and a beta of 0.91.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.675 per share. The ex-dividend date was Friday, November 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.71%. AON’s dividend payout ratio (DPR) is currently 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.