BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in Aon plc (NYSE:AON)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Aon plc (NYSE:AON) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,653 shares of the financial services provider’s stock after selling 5,367 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AON were worth $11,298,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AON. Massachusetts Financial Services Co. MA lifted its holdings in AON by 2.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,552,569 shares of the financial services provider’s stock worth $3,685,183,000 after acquiring an additional 309,702 shares during the period. Mawer Investment Management Ltd. lifted its holdings in AON by 1.2% during the second quarter. Mawer Investment Management Ltd. now owns 4,405,780 shares of the financial services provider’s stock worth $1,293,449,000 after acquiring an additional 52,099 shares during the period. Veritas Asset Management LLP lifted its holdings in AON by 41.6% during the third quarter. Veritas Asset Management LLP now owns 3,010,557 shares of the financial services provider’s stock worth $1,041,623,000 after acquiring an additional 883,761 shares during the period. Independent Franchise Partners LLP lifted its holdings in AON by 2.1% during the second quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock worth $707,390,000 after acquiring an additional 49,161 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in AON by 37.8% during the second quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock worth $587,445,000 after acquiring an additional 548,563 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In other news, insider Lisa Stevens sold 1,275 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $387.68, for a total value of $494,292.00. Following the completion of the sale, the insider now owns 8,077 shares of the company’s stock, valued at approximately $3,131,291.36. The trade was a 13.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

AON Price Performance

AON opened at $391.54 on Monday. The stock has a 50-day moving average price of $366.76 and a 200-day moving average price of $331.55. Aon plc has a 12-month low of $268.06 and a 12-month high of $395.33. 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 has a market capitalization of $84.68 billion, a P/E ratio of 33.04, a PEG ratio of 2.45 and a beta of 0.91.

AON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, November 1st. AON’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AON. Keefe, Bruyette & Woods boosted their target price on AON from $385.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Evercore ISI boosted their price objective on AON from $338.00 to $384.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted 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. Jefferies Financial Group boosted 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $335.00 price objective on shares of AON in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $362.06.

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.