Citizens Financial Group Inc. RI Decreases Stake in Aon plc (NYSE:AON)

Citizens Financial Group Inc. RI trimmed its holdings in shares of Aon plc (NYSE:AON) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,575 shares of the financial services provider’s stock after selling 165 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in AON were worth $8,849,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Farallon Capital Management LLC boosted its stake in shares of AON by 196.7% during the 2nd quarter. Farallon Capital Management LLC now owns 1,875,200 shares of the financial services provider’s stock valued at $550,521,000 after buying an additional 1,243,200 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in AON in the third quarter valued at $336,375,000. Veritas Asset Management LLP grew its holdings in AON by 41.6% during the 3rd 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. Bank of New York Mellon Corp increased its position in shares of AON by 37.8% in 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 during the last quarter. Finally, Stone Point Capital LLC acquired a new stake in shares of AON in the 2nd quarter valued at about $151,808,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company upgraded AON from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $315.00 to $377.00 in a research note on Monday, October 28th. TD Cowen raised their price objective on AON from $413.00 to $432.00 in a research note on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of AON from $344.00 to $365.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler lifted their price target on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of AON from $325.00 to $380.00 and gave the stock a “market perform” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $359.19.

AON Stock Up 0.2 %

AON stock opened at $380.08 on Thursday. Aon plc has a 52 week low of $268.06 and a 52 week high of $389.21. 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 has a market capitalization of $82.20 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 2.38 and a beta of 0.91. The firm’s 50-day moving average is $360.99 and its two-hundred day moving average is $326.26.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.675 per share. 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 currently 22.78%.

AON Company Profile

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.