Mizuho Raises AON (NYSE:AON) Price Target to $426.00

AON (NYSE:AON) had its price objective upped by equities researchers at Mizuho from $389.00 to $426.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price target suggests a potential upside of 19.20% from the stock’s previous close.

A number of other research firms have also recently weighed in on AON. Barclays raised their price target on AON from $372.00 to $382.00 and gave the company an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price objective on AON from $404.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday. TD Cowen reissued a “buy” rating on shares of AON in a research report on Monday, March 16th. JPMorgan Chase & Co. decreased their target price on AON from $406.00 to $396.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a report on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, AON currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.88.

AON Stock Performance

Shares of AON stock opened at $357.38 on Thursday. The firm has a 50 day moving average of $325.72 and a two-hundred day moving average of $330.73. The stock has a market capitalization of $76.33 billion, a PE ratio of 19.61, a P/E/G ratio of 1.89 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. AON has a 52 week low of $304.59 and a 52 week high of $381.00.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same period last year, the firm earned $5.67 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts predict that AON will post 19.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AON. NewEdge Advisors LLC lifted its holdings in shares of AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock valued at $5,246,000 after buying an additional 3,253 shares during the period. Treasurer of the State of North Carolina grew its holdings in AON by 9.1% during the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after acquiring an additional 8,216 shares during the period. Alliancebernstein L.P. raised its position in AON by 35.2% in the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after acquiring an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC lifted its holdings in AON by 27.1% in the second quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock valued at $995,000 after acquiring an additional 583 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of AON by 46.1% during the 2nd quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock worth $14,286,000 after purchasing an additional 12,631 shares in 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.