PNC Financial Services Group Inc. Raises Position in Aon plc (NYSE:AON)

PNC Financial Services Group Inc. lifted its position in shares of Aon plc (NYSE:AON) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,389 shares of the financial services provider’s stock after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of AON worth $46,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd purchased a new position in shares of AON in the second quarter worth $31,000. First Personal Financial Services purchased a new stake in AON during the third quarter valued at $37,000. Eastern Bank bought a new position in AON in the third quarter valued at about $43,000. Nemes Rush Group LLC bought a new stake in shares of AON during the 2nd quarter valued at about $45,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of AON by 52.7% in 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 period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Stock Performance

NYSE:AON opened at $380.08 on Thursday. The company has a debt-to-equity ratio of 2.66, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $82.20 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 2.38 and a beta of 0.91. Aon plc has a 1 year low of $268.06 and a 1 year high of $389.21. The stock’s 50 day simple moving average is $360.99 and its two-hundred day simple moving average is $326.26.

AON Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of AON from $338.00 to $384.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. Wells Fargo & Company upgraded AON from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $315.00 to $377.00 in a research note on Monday, October 28th. Jefferies Financial Group boosted their price target on AON from $344.00 to $365.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. BMO Capital Markets raised their price objective on AON from $325.00 to $380.00 and gave the stock a “market perform” rating in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods boosted 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $359.19.

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.