Wells Fargo & Company Raises AON (NYSE:AON) Price Target to $300.00

AON (NYSE:AON) had its price objective upped by investment analysts at Wells Fargo & Company from $287.00 to $300.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 5.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $311.00 price objective on shares of AON in a research report on Tuesday, May 28th. Piper Sandler raised their price target on shares of AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday. 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 report on Thursday, July 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of AON in a research report on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods upped their price target on AON from $294.00 to $312.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $323.93.

AON Stock Performance

Shares of AON stock traded down $5.82 on Monday, reaching $317.18. The stock had a trading volume of 91,305 shares, compared to its average volume of 1,290,494. AON has a fifty-two week low of $268.06 and a fifty-two week high of $344.68. The business’s 50-day moving average price is $292.59 and its two-hundred day moving average price is $302.68. The company has a debt-to-equity ratio of 2.92, a quick ratio of 4.13 and a current ratio of 2.42. The stock has a market cap of $68.96 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period in the prior year, the business posted $2.76 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, sell-side analysts forecast that AON will post 15.37 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lester B. Knight purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the acquisition, the director now directly owns 139,000 shares in the company, valued at approximately $38,448,790. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.15% of the company’s stock.

Institutional Trading of AON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. grew its position in shares of AON by 1.1% during the 2nd quarter. Whittier Trust Co. now owns 5,042 shares of the financial services provider’s stock worth $1,480,000 after buying an additional 57 shares during the period. HB Wealth Management LLC grew its holdings in AON by 93.1% during the 2nd quarter. HB Wealth Management LLC now owns 5,764 shares of the financial services provider’s stock worth $1,692,000 after acquiring an additional 2,779 shares during the period. Kintegral Advisory LLC raised its position in shares of AON by 4.8% during the 2nd quarter. Kintegral Advisory LLC now owns 1,760 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 81 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of AON by 1.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,985 shares of the financial services provider’s stock worth $2,344,000 after purchasing an additional 96 shares during the period. Finally, AlphaStar Capital Management LLC lifted its stake in AON by 43.3% in the second quarter. AlphaStar Capital Management LLC now owns 3,620 shares of the financial services provider’s stock valued at $1,063,000 after buying an additional 1,094 shares during the period. 86.14% of the stock is owned by institutional investors.

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.