HM Payson & Co. Sells 28,744 Shares of Aon plc (NYSE:AON)

HM Payson & Co. lowered its position in shares of Aon plc (NYSE:AON) by 18.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,396 shares of the financial services provider’s stock after selling 28,744 shares during the period. HM Payson & Co.’s holdings in AON were worth $44,078,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AON. Catalyst Financial Partners LLC grew its position in AON by 3.8% during the third quarter. Catalyst Financial Partners LLC now owns 1,092 shares of the financial services provider’s stock worth $378,000 after buying an additional 40 shares in the last quarter. Fiducient Advisors LLC boosted its position in shares of AON by 0.5% during the 3rd quarter. Fiducient Advisors LLC now owns 374,391 shares of the financial services provider’s stock valued at $129,536,000 after acquiring an additional 2,000 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of AON by 71.2% during the third quarter. Pinnacle Associates Ltd. now owns 1,390 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 578 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in AON by 23.7% in the third quarter. First Trust Direct Indexing L.P. now owns 6,196 shares of the financial services provider’s stock valued at $2,144,000 after purchasing an additional 1,189 shares in the last quarter. Finally, abrdn plc lifted its position in AON by 4.1% during the third quarter. abrdn plc now owns 80,825 shares of the financial services provider’s stock valued at $27,891,000 after purchasing an additional 3,187 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Price Performance

AON stock traded down $0.80 during midday trading on Thursday, reaching $368.67. 27,232 shares of the stock traded hands, compared to its average volume of 1,175,082. The stock has a market cap of $80.09 billion, a P/E ratio of 31.18, a PEG ratio of 2.43 and a beta of 0.92. Aon plc has a 12 month low of $268.06 and a 12 month high of $389.21. The stock’s fifty day moving average is $351.06 and its 200-day moving average is $317.89. The company has a quick ratio of 2.42, a current ratio of 2.05 and a debt-to-equity ratio of 2.66.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, November 1st. AON’s dividend payout ratio is presently 22.78%.

Analysts Set New Price Targets

AON has been the topic of several research reports. 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $335.00 price objective on shares of AON in a report on Monday, August 5th. Morgan Stanley dropped their target price on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Jefferies Financial Group increased their price target on shares of AON from $344.00 to $365.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on shares of AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $355.75.

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.