Synovus Financial Corp Lowers Stock Position in Aon plc (NYSE:AON)

Synovus Financial Corp decreased its holdings in Aon plc (NYSE:AON) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,856 shares of the financial services provider’s stock after selling 365 shares during the quarter. Synovus Financial Corp’s holdings in AON were worth $4,795,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. raised its holdings in shares of AON by 3.3% in the third quarter. Valley Wealth Managers Inc. now owns 886 shares of the financial services provider’s stock valued at $307,000 after buying an additional 28 shares during the last quarter. CVA Family Office LLC raised its stake in AON by 8.4% during the 3rd quarter. CVA Family Office LLC now owns 373 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 29 shares during the last quarter. Amplius Wealth Advisors LLC lifted its position in AON by 2.4% during the 3rd quarter. Amplius Wealth Advisors LLC now owns 1,331 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 31 shares during the period. Intellectus Partners LLC grew its stake in shares of AON by 3.2% in the 3rd quarter. Intellectus Partners LLC now owns 992 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 31 shares during the last quarter. Finally, waypoint wealth counsel increased its holdings in shares of AON by 3.6% in the third quarter. waypoint wealth counsel now owns 927 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other news, COO Mindy F. Simon sold 650 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $394.34, for a total value of $256,321.00. Following the completion of the transaction, the chief operating officer now directly owns 1,816 shares of the company’s stock, valued at $716,121.44. The trade was a 26.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lisa Stevens sold 1,275 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $387.68, for a total value of $494,292.00. Following the sale, the insider now directly owns 8,077 shares in the company, valued at approximately $3,131,291.36. The trade was a 13.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AON. Barclays lifted their price objective on shares of AON from $394.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price target on shares of AON from $344.00 to $365.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded shares of AON from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $315.00 to $377.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted their target price on AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Finally, Keefe, Bruyette & Woods lifted their price target on AON from $385.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. One 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’s stock. According to data from MarketBeat.com, AON has an average rating of “Hold” and a consensus price target of $362.06.

AON Price Performance

Shares of NYSE AON opened at $361.19 on Friday. 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 company’s 50-day moving average price is $371.79 and its 200 day moving average price is $337.32. Aon plc has a 52 week low of $268.06 and a 52 week high of $395.33. The stock has a market cap of $78.11 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 2.27 and a beta of 0.91.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.675 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.75%. AON’s dividend payout ratio is presently 22.78%.

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.