Cantor Fitzgerald Issues Pessimistic Forecast for AON (NYSE:AON) Stock Price

AON (NYSE:AON) had its price target decreased by equities research analysts at Cantor Fitzgerald from $433.00 to $400.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 45.81% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley dropped their price target on AON from $410.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays raised their price objective on shares of AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. UBS Group reissued a “neutral” rating on shares of AON in a research note on Monday, August 31st. Piper Sandler lowered their price target on AON from $391.00 to $349.00 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Finally, Mizuho decreased their price objective on AON from $398.00 to $366.00 and set an “outperform” rating for the company in a research report on Wednesday, September 16th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $385.24.

AON Price Performance

Shares of AON stock opened at $274.33 on Wednesday. AON has a 52 week low of $266.33 and a 52 week high of $382.34. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34. The stock has a market cap of $58.19 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.70. The company’s 50-day moving average price is $324.30 and its two-hundred day moving average price is $328.59.

AON (NYSE:AON) last released 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 the consensus estimate of $4.28 billion. During the same period in the previous year, the firm earned $3.49 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that AON will post 18.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other AON news, Director Lester Knight bought 20,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the transaction, the director directly owned 163,000 shares of the company’s stock, valued at $53,379,240. This represents a 13.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Darren Zeidel sold 1,900 shares of the business’s stock in a transaction dated 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. This represents a 14.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of AON

Institutional investors and hedge funds have recently modified their holdings of the company. Independent Franchise Partners LLP raised its holdings in AON by 0.9% in the 4th quarter. Independent Franchise Partners LLP now owns 2,115,523 shares of the financial services provider’s stock worth $746,526,000 after acquiring an additional 19,037 shares during the period. Bank of America Corp DE boosted its holdings in AON by 16.3% during the first quarter. Bank of America Corp DE now owns 1,582,680 shares of the financial services provider’s stock valued at $510,857,000 after acquiring an additional 222,092 shares during the period. Amundi grew its position in shares of AON by 23.5% in the first quarter. Amundi now owns 1,502,890 shares of the financial services provider’s stock valued at $485,103,000 after purchasing an additional 285,549 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AON by 20.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,253,769 shares of the financial services provider’s stock worth $404,709,000 after purchasing an additional 213,051 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of AON by 74.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 797,418 shares of the financial services provider’s stock worth $257,391,000 after purchasing an additional 340,866 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, make better decisions and improve performance. Its services are organized around risk capital and human capital, combining advisory expertise, data, analytics and insurance-related solutions.

The company provides commercial risk brokerage and consulting, reinsurance brokerage, retirement and investment advisory services, health benefits consulting, talent and compensation consulting, and related technology and data products.