TD Cowen Has Lowered Expectations for AON (NYSE:AON) Stock Price

AON (NYSE:AON) had its target price decreased by equities researchers at TD Cowen from $419.00 to $416.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price points to a potential upside of 23.71% from the stock’s previous close.

Several other analysts have also recently issued reports on AON. JPMorgan Chase & Co. dropped their target price on AON from $436.00 to $433.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Wells Fargo & Company dropped their target price on AON from $451.00 to $448.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Barclays restated an “overweight” rating and issued a $420.00 target price (up from $401.00) on shares of AON in a report on Thursday, July 31st. Cantor Fitzgerald upgraded AON to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, Piper Sandler increased their price target on AON from $393.00 to $413.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $420.33.

AON Price Performance

NYSE AON traded down $4.42 during mid-day trading on Monday, hitting $336.26. The stock had a trading volume of 440,779 shares, compared to its average volume of 1,298,374. The firm’s 50 day moving average is $356.70 and its 200 day moving average is $358.47. AON has a twelve month low of $323.73 and a twelve month high of $412.97. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market capitalization of $72.51 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.92 and a beta of 0.89.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.91 by $0.14. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.97 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.72 EPS. Equities research analysts forecast that AON will post 17.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AON

A number of hedge funds have recently bought and sold shares of the stock. Ninety One North America Inc. raised its position in shares of AON by 64.4% during the 1st quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider’s stock worth $2,986,000 after acquiring an additional 2,932 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of AON during the 2nd quarter worth about $2,464,000. First National Bank & Trust Co. of Newtown acquired a new stake in shares of AON during the 1st quarter worth about $399,000. Nordea Investment Management AB raised its position in shares of AON by 6.6% during the 2nd quarter. Nordea Investment Management AB now owns 17,062 shares of the financial services provider’s stock worth $6,051,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of AON by 27.7% during the 1st quarter. Focus Partners Wealth now owns 125,834 shares of the financial services provider’s stock worth $50,219,000 after acquiring an additional 27,280 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.