AON (NYSE:AON) Releases Quarterly Earnings Results

AON (NYSE:AON) issued its quarterly earnings data on Friday. The financial services provider reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.16), RTT News reports. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.74 billion. AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the business earned $2.76 earnings per share.

AON Stock Performance

Shares of NYSE:AON traded up $23.68 during trading on Friday, reaching $322.63. 3,070,446 shares of the stock were exchanged, compared to its average volume of 1,298,880. AON has a 12-month low of $268.06 and a 12-month high of $344.68. The firm’s 50-day moving average price is $291.99 and its 200 day moving average price is $302.41. The firm has a market cap of $70.15 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.675 dividend. The ex-dividend date is Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.84%. AON’s dividend payout ratio (DPR) is 21.16%.

Insider Buying and Selling at AON

In other AON news, Director Lester B. Knight bought 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the purchase, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AON. Wells Fargo & Company reduced their price objective on AON from $289.00 to $287.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of AON in a research note on Tuesday, June 18th. Bank of America lowered shares of AON from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $345.00 to $306.00 in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Piper Sandler cut their price target on AON from $326.00 to $312.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $321.36.

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.