Bar Harbor Wealth Management Lowers Holdings in Aon plc (NYSE:AON)

Bar Harbor Wealth Management lowered its stake in shares of Aon plc (NYSE:AON) by 13.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,175 shares of the financial services provider’s stock after selling 181 shares during the period. Bar Harbor Wealth Management’s holdings in AON were worth $407,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Farallon Capital Management LLC lifted its holdings in AON by 196.7% in the second quarter. Farallon Capital Management LLC now owns 1,875,200 shares of the financial services provider’s stock valued at $550,521,000 after acquiring an additional 1,243,200 shares during the period. Meritage Group LP acquired a new position in shares of AON in the 1st quarter valued at $258,471,000. Bank of New York Mellon Corp boosted its holdings in AON by 37.8% during the second 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 in the last quarter. Stone Point Capital LLC acquired a new stake in AON during the second quarter valued at $151,808,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AON by 32.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock worth $648,663,000 after acquiring an additional 471,424 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on AON shares. Barclays started coverage on AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Piper Sandler upped their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Jefferies Financial Group lifted 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. Evercore ISI increased their price objective on shares of AON from $338.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $347.06.

AON Price Performance

NYSE:AON opened at $358.05 on Friday. Aon plc has a one year low of $268.06 and a one year high of $363.46. The stock has a market cap of $77.78 billion, a PE ratio of 28.62, a P/E/G ratio of 2.32 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The stock has a 50 day moving average price of $345.94 and a 200 day moving average price of $315.31.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the firm earned $2.76 EPS. The firm’s revenue was up 18.4% on a year-over-year basis. Equities research analysts expect that Aon plc will post 15.22 EPS for the current fiscal year.

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 paid a $0.675 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.75%. AON’s dividend payout ratio (DPR) is 21.58%.

AON Company 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.