Mill Creek Capital Advisors LLC Reduces Position in Aon plc (NYSE:AON)

Mill Creek Capital Advisors LLC reduced its position in Aon plc (NYSE:AON) by 27.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 588 shares of the financial services provider’s stock after selling 223 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in AON were worth $203,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Farallon Capital Management LLC increased its stake in AON by 196.7% in the second quarter. Farallon Capital Management LLC now owns 1,875,200 shares of the financial services provider’s stock valued at $550,521,000 after purchasing an additional 1,243,200 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in AON in the 3rd quarter valued at about $336,375,000. Veritas Asset Management LLP raised its stake 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 valued at $1,041,623,000 after acquiring an additional 883,761 shares during the last quarter. Meritage Group LP purchased a new position in shares of AON in the 1st quarter valued at approximately $258,471,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of AON by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock valued at $587,445,000 after purchasing an additional 548,563 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Price Performance

AON stock opened at $379.29 on Monday. 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’s 50-day simple moving average is $359.12 and its 200 day simple moving average is $324.47. Aon plc has a 52 week low of $268.06 and a 52 week high of $389.21. The firm has a market capitalization 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. 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 0.71%. AON’s dividend payout ratio is presently 22.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $335.00 price objective on shares of AON in a research report on Monday, August 5th. Barclays initiated coverage on shares of AON in a research note on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price target on the stock. Bank of America raised their price objective on shares of AON from $345.00 to $375.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on AON from $385.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler lifted their price target on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. One 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $359.19.

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.