AON (NYSE:AON) PT Lowered to $287.00

AON (NYSE:AON) had its target price reduced by equities researchers at Wells Fargo & Company from $289.00 to $287.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 2.64% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods boosted their price target on AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on AON from $318.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of AON in a research report on Tuesday, June 18th. Citigroup began coverage on AON in a research report on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 price objective for the company. Finally, Bank of America downgraded AON from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $321.71.

AON Stock Performance

AON stock traded up $1.28 during midday trading on Tuesday, hitting $294.77. 301,735 shares of the stock were exchanged, compared to its average volume of 1,302,158. The stock’s 50-day moving average price is $289.64 and its 200-day moving average price is $302.36. The stock has a market cap of $64.09 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 1.94 and a beta of 0.91. AON has a fifty-two week low of $268.06 and a fifty-two week high of $344.68.

AON (NYSE:AON) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the firm earned $5.17 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that AON will post 15.48 EPS for the current year.

Insider Buying and Selling

In other AON news, Director Lester B. Knight purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the completion of the purchase, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.15% of the company’s stock.

Institutional Trading of AON

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in AON by 0.4% during 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 buying an additional 64,500 shares in the last quarter. Capital International Investors raised its stake in AON by 0.4% during the fourth quarter. Capital International Investors now owns 5,524,730 shares of the financial services provider’s stock valued at $1,607,519,000 after buying an additional 22,346 shares in the last quarter. Sustainable Growth Advisers LP raised its position in shares of AON by 4.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 2,805,199 shares of the financial services provider’s stock worth $936,151,000 after purchasing an additional 127,173 shares during the period. Mackenzie Financial Corp raised its position in shares of AON by 8.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,331,132 shares of the financial services provider’s stock worth $678,406,000 after purchasing an additional 179,238 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 purchasing an additional 471,424 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.