TCI Wealth Advisors Inc. Invests $240,000 in Aon plc (NYSE:AON)

TCI Wealth Advisors Inc. bought a new stake in shares of Aon plc (NYSE:AON) in the third quarter, Holdings Channel.com reports. The fund bought 694 shares of the financial services provider’s stock, valued at approximately $240,000.

Several other hedge funds have also recently added to or reduced their stakes in AON. 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 buying an additional 1,243,200 shares during the period. Meritage Group LP bought a new stake in shares of AON during the 1st quarter valued at about $258,471,000. Bank of New York Mellon Corp grew its stake 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 purchasing an additional 548,563 shares during the period. Stone Point Capital LLC acquired a new position in AON in the second quarter valued at approximately $151,808,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of AON by 32.0% during the 1st 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 buying an additional 471,424 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AON from $311.00 to $353.00 and gave the company a “hold” rating in a research report on Monday, August 26th. TD Cowen upped their price objective on shares of AON from $413.00 to $432.00 in a report on Thursday, October 24th. Jefferies Financial Group boosted their target price on AON from $344.00 to $365.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Barclays initiated coverage on AON in a report on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target on the stock. Finally, Morgan Stanley decreased their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $353.56.

AON Stock Performance

Shares of AON stock opened at $371.62 on Tuesday. Aon plc has a one year low of $268.06 and a one year high of $389.21. The company has a market cap of $80.73 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.43 and a beta of 0.92. The firm has a 50-day moving average of $349.75 and a 200-day moving average of $317.08. The company has a debt-to-equity ratio of 2.66, a current ratio of 2.05 and a quick ratio of 2.42.

AON (NYSE:AON) last announced its earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. AON had a return on equity of 107.43% and a net margin of 16.32%. AON’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.76 EPS. Equities research analysts forecast that Aon plc will post 15.25 EPS for the current fiscal year.

AON Dividend Announcement

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 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 yield of 0.73%. AON’s dividend payout ratio (DPR) is presently 22.78%.

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.