AON (NYSE:AON) Sets New 52-Week High After Analyst Upgrade


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Aon plc (NYSE:AON) shares reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $228.00 to $241.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. AON traded as high as $239.30 and last traded at $237.17, with a volume of 4462 shares. The stock had previously closed at $238.83.

A number of other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on AON from $196.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, February 8th. Morgan Stanley upped their price objective on shares of AON from $219.00 to $236.00 and gave the company an “equal weight” rating in a report on Tuesday, March 30th. Zacks Investment Research raised shares of AON from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a research note on Tuesday, February 9th. Wells Fargo & Company increased their price target on shares of AON from $256.00 to $275.00 and gave the company an “overweight” rating in a research note on Monday, February 8th. Finally, Atlantic Securities raised shares of AON from a “neutral” rating to an “overweight” rating and set a $265.00 price target on the stock in a research report on Thursday, February 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $224.54.

Several hedge funds and other institutional investors have recently modified their holdings of AON. Colony Group LLC boosted its holdings in AON by 9.8% during the 3rd quarter. Colony Group LLC now owns 1,336 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 119 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of AON by 69.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 31,530 shares of the financial services provider’s stock valued at $6,505,000 after purchasing an additional 12,908 shares during the period. Rehmann Capital Advisory Group purchased a new stake in AON during the 3rd quarter worth approximately $202,000. tru Independence LLC acquired a new stake in AON during the 3rd quarter worth approximately $169,000. Finally, Trust Asset Management LLC purchased a new position in AON in the 3rd quarter valued at approximately $244,000. 95.71% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $54.06 billion, a PE ratio of 30.87 and a beta of 0.83. The business has a 50-day moving average price of $229.89 and a two-hundred day moving average price of $212.97. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.00.

AON (NYSE:AON) last posted its quarterly earnings results on Thursday, February 4th. The financial services provider reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.16. AON had a return on equity of 65.00% and a net margin of 16.56%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company earned $2.53 EPS. AON’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Aon plc will post 9.66 earnings per share for the current fiscal year.

About AON (NYSE:AON)

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance solutions provider; and health solutions, such as health and benefits brokerages, and health care exchanges.

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