Kornitzer Capital Management Inc. KS Sells 825 Shares of Aon plc (NYSE:AON)

Kornitzer Capital Management Inc. KS lessened its position in shares of Aon plc (NYSE:AON) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 45,864 shares of the financial services provider’s stock after selling 825 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in AON were worth $15,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Graypoint LLC raised its position in shares of AON by 51.4% in the 3rd quarter. Graypoint LLC now owns 1,400 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 475 shares in the last quarter. Radnor Capital Management LLC grew its stake in AON by 8.0% during the third quarter. Radnor Capital Management LLC now owns 10,712 shares of the financial services provider’s stock worth $3,706,000 after purchasing an additional 793 shares during the period. Leslie Global Wealth LLC bought a new stake in AON in the third quarter worth approximately $253,000. Avidian Wealth Enterprises LLC boosted its holdings in shares of AON by 2.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 1,552 shares of the financial services provider’s stock worth $537,000 after buying an additional 34 shares in the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in shares of AON by 4.2% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,528 shares of the financial services provider’s stock valued at $8,486,000 after acquiring an additional 992 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Stock Down 0.2 %

AON stock traded down $0.78 during trading on Thursday, reaching $380.50. The stock had a trading volume of 25,512 shares, compared to its average volume of 1,171,903. The company has a market capitalization of $82.29 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.29 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. The company’s 50 day moving average is $354.11 and its two-hundred day moving average is $320.09. Aon plc has a one year low of $268.06 and a one year high of $389.21.

AON Dividend Announcement

The business also recently announced 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. This represents a $2.70 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, November 1st. AON’s payout ratio is 22.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AON shares. Keefe, Bruyette & Woods upped their price objective on shares of AON from $385.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $335.00 price target on shares of AON in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on AON from $311.00 to $353.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Bank of America increased their target price on AON from $345.00 to $375.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group boosted 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $359.19.

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.