Waddell & Associates LLC Makes New Investment in Aon plc (NYSE:AON)

Waddell & Associates LLC purchased a new stake in shares of Aon plc (NYSE:AON) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 629 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in shares of AON by 2.5% in 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 buying an additional 309,702 shares during the last quarter. Mawer Investment Management Ltd. raised its position in AON by 1.2% during the second 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 boosted its holdings in shares of AON by 41.6% in 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 purchasing an additional 883,761 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in shares of AON by 2.1% during the 2nd quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock valued at $707,390,000 after buying an additional 49,161 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in 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 buying an additional 548,563 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company raised shares of AON from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $315.00 to $377.00 in a research note on Monday, October 28th. Piper Sandler upped their price target on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Barclays boosted their target price on AON from $394.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday. 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. Finally, Jefferies Financial Group raised their target price on shares of AON from $344.00 to $365.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, AON has an average rating of “Hold” and an average target price of $362.06.

AON Stock Performance

Shares of AON stock opened at $386.21 on Friday. The business has a fifty day simple moving average of $362.45 and a two-hundred day simple moving average of $327.35. The firm has a market capitalization of $83.53 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.40 and a beta of 0.91. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 2.66. Aon plc has a 12 month low of $268.06 and a 12 month high of $389.21.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Friday, November 1st. AON’s dividend payout ratio (DPR) 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.