AON (NYSE:AON) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of AON (NYSE:AON) from a hold rating to a sell rating in a research note released on Saturday.

AON has been the topic of several other research reports. Cantor Fitzgerald increased their target price on AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wells Fargo & Company lifted their price target on AON from $406.00 to $419.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Mizuho boosted their price objective on AON from $389.00 to $426.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Citigroup increased their price objective on AON from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AON in a research note on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $410.00.

AON Stock Performance

NYSE AON opened at $357.88 on Friday. The company’s 50 day moving average is $341.89 and its 200-day moving average is $332.04. AON has a 12-month low of $304.59 and a 12-month high of $382.34. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. The firm has a market cap of $75.92 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AON (NYSE:AON) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the company posted $3.49 EPS. AON’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that AON will post 19.09 earnings per share for the current year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 3rd. AON’s dividend payout ratio (DPR) is presently 18.08%.

Insider Activity at AON

In other news, General Counsel Darren Zeidel sold 1,950 shares of the company’s stock in a transaction on Friday, July 17th. The shares were sold at an average price of $372.05, for a total value of $725,497.50. Following the transaction, the general counsel owned 13,404 shares of the company’s stock, valued at approximately $4,986,958.20. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 4,450 shares of company stock worth $1,659,242. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On AON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Watch Advisors INC purchased a new stake in shares of AON in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of AON during the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. bought a new position in shares of AON in the fourth quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in AON in the fourth quarter valued at approximately $30,000. Finally, Strive Asset Management LLC bought a new stake in AON during the third quarter valued at approximately $35,000. 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.