AON (NYSE:AON) Price Target Cut to $345.00

AON (NYSE:AON) had its price objective dropped by investment analysts at Bank of America from $378.00 to $345.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s target price would suggest a potential upside of 22.34% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of AON from $294.00 to $312.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. The Goldman Sachs Group dropped their price objective on shares of AON from $350.00 to $310.00 and set a “neutral” rating for the company in a report on Tuesday, January 9th. UBS Group dropped their price objective on shares of AON from $333.00 to $308.00 and set a “neutral” rating for the company in a report on Monday, February 5th. JPMorgan Chase & Co. lifted their price objective on shares of AON from $318.00 to $353.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Morgan Stanley lifted their price objective on shares of AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two equities research 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.com, AON has a consensus rating of “Hold” and an average target price of $329.69.

AON Price Performance

Shares of AON opened at $282.01 on Monday. AON has a 1-year low of $268.06 and a 1-year high of $347.37. The stock has a market cap of $55.98 billion, a PE ratio of 22.10, a P/E/G ratio of 1.72 and a beta of 0.86. The firm has a 50-day simple moving average of $315.83 and a two-hundred day simple moving average of $313.36.

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

Insider Transactions at AON

In other news, insider Michael Neller sold 750 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $312.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now owns 3,869 shares in the company, valued at approximately $1,207,128. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Lisa Stevens sold 13,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $315.26, for a total value of $4,098,380.00. Following the completion of the sale, the insider now owns 10,073 shares in the company, valued at approximately $3,175,613.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Neller sold 750 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $312.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now owns 3,869 shares of the company’s stock, valued at approximately $1,207,128. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,532 shares of company stock worth $23,335,805. 1.15% of the stock is currently owned by insiders.

Institutional Trading of AON

Several institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Advisors Network LLC raised its position in 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 last quarter. Capital Planning Advisors LLC increased its stake in AON by 0.3% in the 3rd quarter. Capital Planning Advisors LLC now owns 11,793 shares of the financial services provider’s stock valued at $3,824,000 after buying an additional 35 shares during the period. Valley Wealth Managers Inc. increased its stake in 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 buying an additional 36 shares during the period. Lincoln National Corp increased its stake in AON by 0.7% in the 3rd quarter. Lincoln National Corp now owns 5,446 shares of the financial services provider’s stock valued at $1,766,000 after buying an additional 37 shares during the period. Finally, Atria Wealth Solutions Inc. increased its stake in AON by 2.2% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider’s stock valued at $560,000 after buying an additional 37 shares during the period. Hedge funds and other 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.