AON (NYSE:AON) Price Target Cut to $312.00 by Analysts at Piper Sandler

AON (NYSE:AON) had its price target lowered by Piper Sandler from $326.00 to $312.00 in a report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

AON has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of AON from $318.00 to $353.00 and gave the company an overweight rating in a research report on Monday, April 8th. The Goldman Sachs Group decreased their target price on shares of AON from $350.00 to $310.00 and set a neutral rating on the stock in a research report on Tuesday, January 9th. Morgan Stanley lifted their price target on shares of AON from $325.00 to $327.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Royal Bank of Canada reduced their price target on AON from $342.00 to $325.00 and set a sector perform rating on the stock in a research report on Monday, February 5th. Finally, Keefe, Bruyette & Woods upped their target price on AON from $294.00 to $312.00 and gave the company an underperform rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $329.69.

AON Trading Down 1.4 %

NYSE:AON opened at $281.07 on Monday. The stock has a market cap of $55.80 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.72 and a beta of 0.86. The stock has a 50-day moving average price of $316.50 and a two-hundred day moving average price of $313.67. AON has a 1 year low of $268.06 and a 1 year high of $347.37.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing the consensus estimate of $5.86 by ($0.20). The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the company posted $5.17 earnings per share. Sell-side analysts forecast that AON will post 15.82 earnings per share for the current year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Tuesday, April 30th. This is a boost from AON’s previous quarterly dividend of $0.62. AON’s dividend payout ratio is presently 19.28%.

Insider Activity

In other news, CFO Christa Davies sold 20,618 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the completion of the transaction, the chief financial officer now owns 159,570 shares of the company’s stock, valued at $49,690,098. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Christa Davies sold 20,618 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $311.40, for a total value of $6,420,445.20. Following the sale, the chief financial officer now owns 159,570 shares of the company’s stock, valued at $49,690,098. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Lisa Stevens sold 13,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $315.26, for a total value of $4,098,380.00. Following the transaction, the insider now owns 10,073 shares of the company’s stock, valued at $3,175,613.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,532 shares of company stock valued at $23,335,805. 1.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AON

A number of hedge funds have recently bought and sold shares of the company. Integrated Advisors Network LLC lifted its stake in shares of AON by 5.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 32 shares during the period. Capital Planning Advisors LLC boosted its holdings in shares of AON by 0.3% during the 3rd quarter. Capital Planning Advisors LLC now owns 11,793 shares of the financial services provider’s stock worth $3,824,000 after buying an additional 35 shares in the last quarter. Valley Wealth Managers Inc. increased its stake in shares of AON by 4.9% in the 3rd quarter. Valley Wealth Managers Inc. now owns 777 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 36 shares in the last quarter. Lincoln National Corp lifted its position in shares of AON by 0.7% during the 3rd quarter. Lincoln National Corp now owns 5,446 shares of the financial services provider’s stock valued at $1,766,000 after acquiring an additional 37 shares during the period. Finally, Atria Wealth Solutions Inc. grew its holdings in AON by 2.2% in the third quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 37 shares during the period. Institutional investors own 86.14% of the company’s stock.

About AON

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.