AON (NYSE:AON) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

Aon plc (NYSE:AON – Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $303.31 and traded as high as $318.72. AON shares last traded at $315.3810, with a volume of 2,657,722 shares.

Key Headlines Impacting AON

Here are the key news stories impacting AON this week:

Analysts Set New Price Targets

AON has been the subject of several recent research reports. TD Cowen boosted their price target on AON from $416.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Roth Capital set a $380.00 target price on shares of AON and gave the company a “buy” rating in a research note on Tuesday, September 1st. Jefferies Financial Group decreased their target price on shares of AON from $387.00 to $383.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Piper Sandler dropped their price target on shares of AON from $391.00 to $349.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Finally, Keefe, Bruyette & Woods cut their price target on shares of AON from $417.00 to $342.00 and set an “outperform” rating on the stock in a report on Monday, October 12th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $367.59.

View Our Latest Analysis on AON

AON Stock Up 0.0%

The stock has a market cap of $68.26 billion, a P/E ratio of 17.39, a PEG ratio of 1.68 and a beta of 0.70. The company has a quick ratio of 1.54, a current ratio of 4.72 and a debt-to-equity ratio of 2.58. The business has a 50-day simple moving average of $302.17 and a 200-day simple moving average of $326.08.

AON (NYSE:AON – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $3.36 EPS for the quarter, beating the consensus estimate of $3.30 by $0.06. AON had a return on equity of 40.46% and a net margin of 22.24%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the company posted $3.05 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Aon plc will post 18.63 EPS for the current year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, November 2nd. AON’s dividend payout ratio (DPR) is 18.08%.

Insiders Place Their Bets

In other news, Director Lester Knight bought 20,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average price of $327.48 per share, with a total value of $6,549,600.00. Following the transaction, 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 document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AON

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversify Advisory Services LLC lifted its holdings in AON by 5,225.7% in the third quarter. Diversify Advisory Services LLC now owns 194,070 shares of the financial services provider’s stock valued at $53,713,000 after buying an additional 190,426 shares during the period. NBT Bank N.A. bought a new position in AON in the third quarter valued at approximately $10,117,000. CYBER HORNET ETFs LLC grew its holdings in AON by 4,903.4% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 29,470 shares of the financial services provider’s stock worth $9,775,000 after acquiring an additional 28,881 shares during the period. Farmers & Merchants Investments Inc. grew its holdings in AON by 76,726.4% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 113,703 shares of the financial services provider’s stock worth $31,470,000 after acquiring an additional 113,555 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of AON by 16.4% during the 2nd quarter. Wellington Management Group LLP now owns 106,370 shares of the financial services provider’s stock valued at $35,282,000 after acquiring an additional 14,996 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Company Profile

(Get Free Report)

Aon plc is a global professional services firm that helps organizations manage risk, make informed decisions and improve workforce outcomes. Its services span commercial risk, health, retirement and investments, and data and analytics.

The company provides insurance brokerage and risk-management services, including coverage placement, claims support, risk transfer and consulting. Through its reinsurance business, Aon also serves insurers and other organizations seeking to manage catastrophe, capital and underwriting risks.

Aon’s human capital offerings include employee benefits consulting, retirement advisory services, talent and compensation consulting, and health and workforce solutions.

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