Wells Fargo & Company Issues Positive Forecast for AON (NYSE:AON) Stock Price

AON (NYSE:AON) had its price target raised by equities researchers at Wells Fargo & Company from $323.00 to $364.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.13% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Piper Sandler dropped their target price on AON from $391.00 to $349.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Jefferies Financial Group cut their price objective on shares of AON from $387.00 to $383.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. Evercore decreased their target price on shares of AON from $423.00 to $375.00 in a research report on Thursday, October 8th. Zacks Research downgraded AON from a “hold” rating to a “strong sell” rating in a research report on Monday, October 26th. Finally, TD Cowen lifted their price objective on AON from $416.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AON has a consensus rating of “Hold” and an average target price of $370.59.

AON Trading Up 0.0%

Shares of NYSE AON opened at $321.75 on Monday. AON has a fifty-two week low of $266.33 and a fifty-two week high of $382.34. The company has a debt-to-equity ratio of 2.58, a quick ratio of 4.72 and a current ratio of 4.72. The company has a market cap of $68.26 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.69 and a beta of 0.63. The business’s 50 day moving average price is $302.17 and its 200-day moving average price is $326.08.

AON (NYSE:AON) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.06. AON had a net margin of 22.24% and a return on equity of 40.46%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts expect that AON will post 18.55 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lester Knight bought 20,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were bought at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the acquisition, the director directly 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 acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Trading of AON

Institutional investors have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC boosted its stake in shares of AON by 5,225.7% in the third quarter. Diversify Advisory Services LLC now owns 194,070 shares of the financial services provider’s stock valued at $53,713,000 after purchasing an additional 190,426 shares during the period. NBT Bank N.A. acquired a new stake in shares of AON during the third quarter worth $10,117,000. CYBER HORNET ETFs LLC lifted its position in shares of AON by 4,903.4% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 29,470 shares of the financial services provider’s stock valued at $9,775,000 after acquiring an additional 28,881 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of AON by 76,726.4% in the third quarter. Farmers & Merchants Investments Inc. now owns 113,703 shares of the financial services provider’s stock worth $31,470,000 after buying an additional 113,555 shares during the period. Finally, Wellington Management Group LLP grew its position in AON by 16.4% during the second quarter. Wellington Management Group LLP now owns 106,370 shares of the financial services provider’s stock valued at $35,282,000 after purchasing an additional 14,996 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

About AON

Aon plc is a global professional services firm that helps organizations manage risk, make informed decisions and improve workforce outcomes. Its services span commercial risk, health, retirement and investments, and data and analytics.

The company provides insurance brokerage and risk-management services, including coverage placement, claims support, risk transfer and consulting. Through its reinsurance business, Aon also serves insurers and other organizations seeking to manage catastrophe, capital and underwriting risks.

Aon’s human capital offerings include employee benefits consulting, retirement advisory services, talent and compensation consulting, and health and workforce solutions.