Aon plc (NYSE:AON) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its holdings in shares of Aon plc (NYSE:AON) by 71.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,390 shares of the financial services provider’s stock after buying an additional 578 shares during the period. Pinnacle Associates Ltd.’s holdings in AON were worth $481,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. First Trust Direct Indexing L.P. grew its holdings in AON by 23.7% during the third quarter. First Trust Direct Indexing L.P. now owns 6,196 shares of the financial services provider’s stock worth $2,144,000 after acquiring an additional 1,189 shares during the period. abrdn plc grew its stake in shares of AON by 4.1% during the 3rd quarter. abrdn plc now owns 80,825 shares of the financial services provider’s stock worth $27,891,000 after purchasing an additional 3,187 shares during the period. Autumn Glory Partners LLC purchased a new stake in AON during the third quarter worth about $311,000. TCI Wealth Advisors Inc. acquired a new position in AON during the third quarter worth about $240,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in AON in the third quarter valued at about $212,000. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Price Performance

AON stock opened at $364.42 on Monday. Aon plc has a 1 year low of $268.06 and a 1 year high of $389.21. The company has a debt-to-equity ratio of 2.66, a quick ratio of 2.42 and a current ratio of 2.05. The firm has a 50 day moving average price of $352.15 and a 200 day moving average price of $318.84. The company has a market cap of $78.81 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.31 and a beta of 0.91.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.675 per share. The ex-dividend date is Friday, November 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.74%. AON’s payout ratio is 22.78%.

Analyst Ratings Changes

AON has been the topic of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $335.00 price target on shares of AON in a research note on Monday, August 5th. Jefferies Financial Group lifted their price target on AON from $344.00 to $365.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI raised their target price on shares of AON from $338.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, AON currently has a consensus rating of “Hold” and a consensus price target of $355.75.

About AON

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.