AON (NYSE:AON) Price Target Raised to $420.00

AON (NYSE:AON) had its price target lifted by equities researchers at TD Cowen from $416.00 to $420.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective suggests a potential upside of 36.81% from the stock’s previous close.

Several other research analysts also recently commented on the company. BMO Capital Markets reduced their price objective on AON from $375.00 to $360.00 and set a “market perform” rating on the stock in a report on Tuesday, September 1st. Mizuho lowered their target price on AON from $437.00 to $398.00 and set an “outperform” rating for the company in a report on Tuesday, September 1st. Evercore reissued an “outperform” rating and set a $423.00 price target on shares of AON in a research report on Wednesday, September 2nd. Wall Street Zen downgraded AON from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Finally, Cantor Fitzgerald lowered their price objective on shares of AON from $445.00 to $433.00 and set an “overweight” rating for the company in a research note on Tuesday, September 1st. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.35.

AON Trading Up 1.4%

AON stock traded up $4.32 during trading hours on Monday, hitting $307.00. The company had a trading volume of 490,715 shares, compared to its average volume of 1,449,597. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market cap of $65.12 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.53 and a beta of 0.66. The company has a 50-day moving average price of $350.34 and a two-hundred day moving average price of $333.82. AON has a 1 year low of $302.44 and a 1 year high of $382.34.

AON (NYSE:AON) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the company posted $3.49 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that AON will post 18.94 earnings per share for the current year.

Insider Activity at AON

In other news, Director Lester Knight bought 20,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was bought at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the purchase, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. The trade was a 13.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Darren Zeidel sold 1,900 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total value of $717,744.00. Following the completion of the sale, the general counsel directly owned 11,504 shares of the company’s stock, valued at $4,345,751.04. The trade was a 14.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,450 shares of company stock valued at $1,659,242. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On AON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its holdings in shares of AON by 10.9% in the second quarter. Sequoia Financial Advisors LLC now owns 17,646 shares of the financial services provider’s stock valued at $5,853,000 after purchasing an additional 1,739 shares during the period. National Pension Service lifted its holdings in shares of AON by 2.0% in the 2nd quarter. National Pension Service now owns 484,892 shares of the financial services provider’s stock valued at $160,834,000 after buying an additional 9,349 shares during the period. Integrated Wealth Concepts LLC raised its position in AON by 9.2% during the second quarter. Integrated Wealth Concepts LLC now owns 14,315 shares of the financial services provider’s stock valued at $4,748,000 after acquiring an additional 1,208 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in AON by 3.5% in the second quarter. NewEdge Advisors LLC now owns 6,898 shares of the financial services provider’s stock valued at $2,288,000 after acquiring an additional 234 shares during the period. Finally, IFP Advisors Inc lifted its holdings in AON by 183.3% in the second quarter. IFP Advisors Inc now owns 1,592 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 1,030 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.

Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.