Pinnacle Financial Partners Inc Sells 120 Shares of Aon plc (NYSE:AON)

Pinnacle Financial Partners Inc reduced its position in shares of Aon plc (NYSE:AON) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,491 shares of the financial services provider’s stock after selling 120 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in AON were worth $516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in 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. bought a new position in shares of AON in the third quarter valued at about $336,375,000. Vanguard Group Inc. raised its position in shares of AON by 0.4% in 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 purchasing an additional 64,500 shares during the period. Vontobel Holding Ltd. raised its position in shares of AON by 150.4% in the third quarter. Vontobel Holding Ltd. now owns 96,321 shares of the financial services provider’s stock valued at $33,326,000 after purchasing an additional 57,847 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of AON in the first quarter valued at about $906,000. 86.14% of the stock is owned by institutional investors.

AON Trading Down 2.7 %

Shares of AON stock opened at $376.34 on Friday. The company has a market capitalization of $81.39 billion, a price-to-earnings ratio of 31.76, a PEG 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 12-month low of $268.06 and a 12-month high of $389.21. The firm’s 50-day moving average price is $357.95 and its two-hundred day moving average price is $322.84.

AON Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.72%. AON’s payout ratio is currently 22.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective 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. Piper Sandler raised 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. Wells Fargo & Company raised shares of AON from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $315.00 to $377.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Evercore ISI raised their price target on shares of AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.