Victory Capital Management Inc. Reduces Holdings in Aon plc (NYSE:AON)

Victory Capital Management Inc. lessened its position in shares of Aon plc (NYSE:AON) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,995 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. Victory Capital Management Inc.’s holdings in AON were worth $24,910,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in AON by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,552,569 shares of the financial services provider’s stock valued at $3,685,183,000 after purchasing an additional 309,702 shares during the period. Mawer Investment Management Ltd. raised its holdings in AON by 1.2% in the 2nd 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 buying an additional 52,099 shares during the period. Veritas Asset Management LLP lifted its position in AON by 41.6% in the third 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 buying an additional 883,761 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in AON by 2.1% during the second quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock worth $707,390,000 after buying an additional 49,161 shares during the period. Finally, Bank of New York Mellon Corp raised its stake 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 valued at $587,445,000 after acquiring an additional 548,563 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Performance

Shares of AON stock opened at $379.29 on Monday. Aon plc has a 12 month low of $268.06 and a 12 month 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 $82.03 billion, a P/E ratio of 32.01, a PEG ratio of 2.38 and a beta of 0.91. The firm has a fifty day moving average price of $359.12 and a 200 day moving average price of $324.47.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.675 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.71%. AON’s payout ratio is currently 22.78%.

Wall Street Analysts Forecast Growth

AON has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Keefe, Bruyette & Woods lifted their price objective on AON from $385.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Bank of America increased their target price on AON from $345.00 to $375.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on AON from $413.00 to $432.00 in a research report on Thursday, October 24th. Finally, Piper Sandler increased their price target on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $359.19.

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.