AON (NYSE:AON) Rating Lowered to Strong Sell at Wolfe Research

AON (NYSE:AON) was downgraded by stock analysts at Wolfe Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday, Zacks reports.

A number of other brokerages have also recently weighed in on AON. Cantor Fitzgerald decreased their price objective on AON from $445.00 to $433.00 and set an “overweight” rating on the stock in a report on Tuesday, September 1st. Morgan Stanley increased their price target on shares of AON from $380.00 to $410.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Piper Sandler lowered their price objective on shares of AON from $391.00 to $349.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Keefe, Bruyette & Woods upped their price objective on shares of AON from $412.00 to $417.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. Finally, Barclays lifted their target price on shares of AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.12.

AON Price Performance

Shares of NYSE AON opened at $303.19 on Friday. The stock’s 50-day simple moving average is $350.34 and its two-hundred day simple moving average is $333.70. The firm has a market capitalization of $64.31 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.56 and a beta of 0.66. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. AON has a twelve month low of $302.44 and a twelve month high of $382.34.

AON (NYSE:AON) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the business posted $3.49 earnings per share. AON’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that AON will post 18.94 EPS for the current fiscal year.

Insider Buying and Selling at AON

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total value of $717,744.00. Following the transaction, the general counsel owned 11,504 shares in the company, valued at approximately $4,345,751.04. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lester Knight bought 20,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were purchased at an average price of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the acquisition, the director owned 163,000 shares of the company’s stock, valued at $53,379,240. This trade represents a 13.99% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 4,450 shares of company stock valued at $1,659,242 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of AON

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. City National Bank of Florida MSD raised its holdings in AON by 3.8% in the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 32 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of AON by 5.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider’s stock valued at $216,000 after buying an additional 33 shares during the period. Larson Financial Group LLC raised its stake in AON by 0.4% in the fourth quarter. Larson Financial Group LLC now owns 9,584 shares of the financial services provider’s stock worth $3,382,000 after buying an additional 34 shares in the last quarter. Aspen Grove Capital LLC lifted its holdings in AON by 4.8% in the first quarter. Aspen Grove Capital LLC now owns 737 shares of the financial services provider’s stock worth $238,000 after buying an additional 34 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its holdings in AON by 1.9% in the fourth quarter. J.W. Cole Advisors Inc. now owns 1,863 shares of the financial services provider’s stock worth $648,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About AON

Aon plc is a global professional services firm that helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.

Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.