CIBC Asset Management Inc Cuts Holdings in Aon plc (NYSE:AON)

CIBC Asset Management Inc decreased its position in Aon plc (NYSE:AON) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186,156 shares of the financial services provider’s stock after selling 289 shares during the period. CIBC Asset Management Inc’s holdings in AON were worth $64,349,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd bought a new stake in AON during the second quarter worth $31,000. Diamond Hill Capital Management Inc. purchased a new position in shares of AON in the 3rd quarter worth about $336,375,000. Vanguard Group Inc. grew its position in AON by 0.4% during the first quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock valued at $5,894,053,000 after buying an additional 64,500 shares during the period. Vontobel Holding Ltd. increased its holdings in AON by 150.4% during the third quarter. Vontobel Holding Ltd. now owns 96,321 shares of the financial services provider’s stock worth $33,326,000 after buying an additional 57,847 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in AON in the first quarter worth about $906,000. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AON shares. Piper Sandler upped their price objective on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Bank of America upped their price target on AON from $345.00 to $375.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on AON from $413.00 to $432.00 in a report on Thursday, October 24th. BMO Capital Markets upped their price objective on shares of AON from $325.00 to $380.00 and gave the company a “market perform” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $335.00 target price on shares of AON in a research note on Monday, August 5th. One investment 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’s stock. According to MarketBeat.com, AON presently has an average rating of “Hold” and a consensus price target of $359.19.

AON Stock Performance

AON stock opened at $376.34 on Friday. The firm has a fifty day simple moving average of $357.95 and a two-hundred day simple moving average of $322.84. The company has a market capitalization of $81.39 billion, a PE ratio of 31.76, a P/E/G ratio of 2.42 and a beta of 0.91. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 2.66. Aon plc has a twelve month low of $268.06 and a twelve month high of $389.21.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, November 1st. AON’s dividend payout ratio (DPR) is presently 22.78%.

AON 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.