Kentucky Retirement Systems Insurance Trust Fund Reduces Stake in Aon plc (NYSE:AON)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in Aon plc (NYSE:AON) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,432 shares of the financial services provider’s stock after selling 581 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AON were worth $2,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in AON by 2.5% during the 2nd 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 purchasing an additional 309,702 shares during the period. Mawer Investment Management Ltd. boosted its holdings in AON by 1.2% in the 2nd quarter. Mawer Investment Management Ltd. now owns 4,405,780 shares of the financial services provider’s stock valued at $1,293,449,000 after purchasing an additional 52,099 shares in the last quarter. Veritas Asset Management LLP raised its position in AON by 41.6% in 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 in the last quarter. Independent Franchise Partners LLP lifted its holdings in AON by 2.1% in the second quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock valued at $707,390,000 after acquiring an additional 49,161 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of AON by 37.8% during the 2nd 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 purchasing an additional 548,563 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AON. Jefferies Financial Group boosted their price objective on shares of AON from $344.00 to $365.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI boosted their price target on AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price objective on AON from $325.00 to $380.00 and gave the company a “market perform” rating in a research note on Monday, November 4th. Barclays assumed coverage on AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on AON from $385.00 to $415.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $359.19.

AON Trading Up 0.8 %

Shares of AON stock opened at $379.29 on Friday. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $389.21. The business’s fifty day moving average is $359.12 and its two-hundred day moving average is $324.19. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 2.66. The firm 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 declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, November 1st. AON’s payout ratio is 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.