Cable Hill Partners LLC Makes New Investment in Aon plc (NYSE:AON)

Cable Hill Partners LLC purchased a new position in shares of Aon plc (NYSE:AON) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 579 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AON. Farallon Capital Management LLC increased 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 worth $550,521,000 after purchasing an additional 1,243,200 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of AON during the 3rd quarter worth about $336,375,000. Veritas Asset Management LLP increased its stake in shares of 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 purchasing an additional 883,761 shares during the last quarter. Meritage Group LP acquired a new position in shares of AON during the 1st quarter worth about $258,471,000. Finally, Bank of New York Mellon Corp increased its stake 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 during the last quarter. 86.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America upped their price target on shares of AON from $345.00 to $375.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Barclays assumed coverage on shares of AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target on the stock. Jefferies Financial Group upped their price target 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. Keefe, Bruyette & Woods upped their price target on shares of AON from $385.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $335.00 price target on shares of AON in a research note on Monday, August 5th. 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $359.19.

AON Stock Performance

Shares of AON stock opened at $376.34 on Friday. The company has a 50 day moving average of $357.95 and a 200-day moving average of $322.84. Aon plc has a 1-year low of $268.06 and a 1-year 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 cap of $81.39 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.42 and a beta of 0.91.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is 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.