Tower Bridge Advisors Sells 862 Shares of Aon plc (NYSE:AON)

Tower Bridge Advisors decreased its position in shares of Aon plc (NYSE:AON) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,635 shares of the financial services provider’s stock after selling 862 shares during the period. AON accounts for 1.6% of Tower Bridge Advisors’ holdings, making the stock its 16th biggest position. Tower Bridge Advisors’ holdings in AON were worth $15,443,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Y.D. More Investments Ltd purchased a new position in AON during the 2nd quarter worth $31,000. First Personal Financial Services purchased a new stake in shares of AON during the third quarter worth about $37,000. Eastern Bank purchased a new position in shares of AON in the 3rd quarter valued at approximately $43,000. Nemes Rush Group LLC acquired a new stake in AON in the 2nd quarter worth approximately $45,000. Finally, Bruce G. Allen Investments LLC grew its position in AON by 52.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 58 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Price Performance

NYSE:AON opened at $379.29 on Friday. The stock has a 50 day moving average of $359.12 and a two-hundred day moving average of $324.19. Aon plc has a 12 month low of $268.06 and a 12 month high of $389.21. The firm has a market cap of $82.03 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 2.38 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on AON. Keefe, Bruyette & Woods upped their target price on AON from $385.00 to $415.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 target price on shares of AON in a report on Monday, August 5th. Barclays began coverage on shares of AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price target for the company. Wells Fargo & Company raised shares of AON from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $315.00 to $377.00 in a report on Monday, October 28th. Finally, Jefferies Financial Group boosted their target price 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.