Korea Investment CORP boosted its holdings in Aon plc (NYSE:AON) by 86.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,700 shares of the financial services provider’s stock after purchasing an additional 50,500 shares during the quarter. Korea Investment CORP’s holdings in AON were worth $25,953,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in AON. Sowell Financial Services LLC increased its stake in AON by 9.2% in the first quarter. Sowell Financial Services LLC now owns 1,019 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 86 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in AON by 31.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,754 shares of the financial services provider’s stock valued at $1,554,000 after purchasing an additional 1,620 shares during the last quarter. MAI Capital Management increased its stake in AON by 6.3% during the first quarter. MAI Capital Management now owns 2,503 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 149 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of AON by 2.3% in the 1st quarter. Cigna Investments Inc. New now owns 8,189 shares of the financial services provider’s stock worth $1,884,000 after purchasing an additional 183 shares during the period. Finally, Pictet & Cie Europe SA raised its holdings in shares of AON by 25.1% in the 1st quarter. Pictet & Cie Europe SA now owns 21,207 shares of the financial services provider’s stock worth $4,880,000 after purchasing an additional 4,252 shares during the period.
Shares of NYSE AON opened at $299.17 on Friday. Aon plc has a fifty-two week low of $179.52 and a fifty-two week high of $302.33. The business has a 50 day moving average price of $274.78 and a two-hundred day moving average price of $252.15. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.59. The firm has a market cap of $67.54 billion, a PE ratio of 32.84 and a beta of 0.87.
The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Monday, August 2nd were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $2.04 annualized dividend and a dividend yield of 0.68%. AON’s payout ratio is 20.80%.
A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price objective on AON from $287.00 to $306.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. MKM Partners raised their price objective on AON from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Raymond James upgraded AON from an “underperform” rating to a “market perform” rating and set a $265.75 price objective on the stock in a report on Wednesday, July 28th. Wolfe Research began coverage on AON in a research note on Monday, August 16th. They issued a “market perform” rating and a $292.00 target price for the company. Finally, Royal Bank of Canada increased their target price on AON from $260.00 to $275.00 and gave the company a “sector perform” rating in a research note on Monday, August 2nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $268.06.
In related news, Director J Michael Losh sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $279.62, for a total value of $2,516,580.00. Following the sale, the director now owns 14,205 shares of the company’s stock, valued at approximately $3,972,002.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lester B. Knight purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The stock was bought at an average cost of $263.95 per share, for a total transaction of $2,639,500.00. Following the acquisition, the director now owns 1,720 shares in the company, valued at approximately $453,994. The disclosure for this purchase can be found here. 0.99% of the stock is currently owned by company insiders.
AON Company Profile
Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.
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