Mizuho Lowers AON (NYSE:AON) Price Target to $389.00

AON (NYSE:AON) had its price objective decreased by stock analysts at Mizuho from $394.00 to $389.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective points to a potential upside of 23.56% from the stock’s current price.

A number of other research firms have also commented on AON. Bank of America raised AON from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $398.00 to $397.00 in a report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. TD Cowen reissued a “buy” rating on shares of AON in a report on Monday, March 16th. UBS Group reissued a “neutral” rating and issued a $385.00 target price on shares of AON in a report on Monday, February 2nd. Finally, Citigroup raised their price target on AON from $402.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.88.

AON Stock Up 1.1%

AON stock opened at $314.84 on Tuesday. AON has a twelve month low of $304.59 and a twelve month high of $381.00. The company has a quick ratio of 2.03, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm has a market cap of $67.24 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72. The business has a 50 day moving average of $325.41 and a 200 day moving average of $337.13.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, May 1st. The financial services provider reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $5.67 EPS. On average, research analysts forecast that AON will post 18.98 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Darren Zeidel sold 5,040 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total value of $1,641,981.60. Following the transaction, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. The trade was a 19.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lester B. Knight acquired 4,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average price of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the transaction, the director directly owned 143,000 shares of the company’s stock, valued at approximately $45,651,320. This represents a 2.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On AON

Large investors have recently made changes to their positions in the business. Murphy Middleton Hinkle & Parker Inc. bought a new stake in shares of AON in the fourth quarter worth about $4,305,000. Callan Family Office LLC increased its holdings in shares of AON by 220.7% in the third quarter. Callan Family Office LLC now owns 11,675 shares of the financial services provider’s stock worth $4,163,000 after purchasing an additional 8,034 shares during the last quarter. Caprock Group LLC bought a new stake in shares of AON in the third quarter worth about $1,752,000. Veritas Asset Management LLP increased its holdings in shares of AON by 19.3% in the third quarter. Veritas Asset Management LLP now owns 2,053,673 shares of the financial services provider’s stock worth $732,299,000 after purchasing an additional 332,685 shares during the last quarter. Finally, Savant Capital LLC increased its holdings in shares of AON by 64.9% in the third quarter. Savant Capital LLC now owns 19,092 shares of the financial services provider’s stock worth $6,808,000 after purchasing an additional 7,512 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

About AON

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.