AON (NYSE:AON) Price Target Raised to $327.00

AON (NYSE:AON) had its price target hoisted by Morgan Stanley from $325.00 to $327.00 in a report issued on Monday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price objective on AON from $304.00 to $295.00 and set an underweight rating on the stock in a report on Thursday, December 21st. TD Cowen initiated coverage on AON in a report on Wednesday, January 10th. They set an outperform rating and a $390.00 price objective on the stock. Royal Bank of Canada cut their target price on AON from $342.00 to $325.00 and set a sector perform rating on the stock in a research report on Monday, February 5th. Piper Sandler boosted their target price on AON from $306.00 to $326.00 and gave the company a neutral rating in a research report on Monday, February 12th. Finally, BMO Capital Markets cut their target price on AON from $350.00 to $325.00 and set a market perform rating on the stock in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $335.36.

AON Trading Up 0.2 %

NYSE AON opened at $304.79 on Monday. The stock’s 50 day moving average is $317.78 and its 200 day moving average is $314.96. AON has a 12 month low of $284.85 and a 12 month high of $347.37. The stock has a market cap of $60.44 billion, a PE ratio of 24.42, a P/E/G ratio of 1.85 and a beta of 0.86.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, February 2nd. The financial services provider reported $3.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.07 by ($0.18). The firm had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.36 billion. AON had a negative return on equity of 1,150.40% and a net margin of 19.17%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $3.89 earnings per share. On average, analysts forecast that AON will post 15.77 EPS for the current fiscal year.

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, April 30th. This is an increase from AON’s previous quarterly dividend of $0.62. AON’s dividend payout ratio is 19.71%.

Insider Buying and Selling at AON

In other AON news, CFO Christa Davies sold 20,618 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the transaction, the chief financial officer now owns 159,570 shares of the company’s stock, valued at approximately $49,690,098. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Christa Davies sold 20,618 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $311.40, for a total transaction of $6,420,445.20. Following the transaction, the chief financial officer now owns 159,570 shares of the company’s stock, valued at approximately $49,690,098. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lester B. Knight purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were purchased at an average cost of $301.97 per share, for a total transaction of $15,098,500.00. Following the transaction, the director now directly owns 134,000 shares in the company, valued at approximately $40,463,980. The disclosure for this purchase can be found here. Insiders have sold 74,532 shares of company stock valued at $23,335,805 in the last quarter. 1.15% of the stock is owned by insiders.

Hedge Funds Weigh In On AON

A number of hedge funds and other institutional investors have recently made changes to their positions in AON. BKM Wealth Management LLC purchased a new stake in shares of AON during the 4th quarter worth $25,000. Milestone Investment Advisors LLC purchased a new stake in shares of AON during the 3rd quarter worth $30,000. Quarry LP purchased a new stake in shares of AON during the 1st quarter worth $31,000. Frazier Financial Advisors LLC purchased a new stake in shares of AON during the 4th quarter worth $31,000. Finally, Rise Advisors LLC purchased a new stake in shares of AON during the 1st quarter worth $37,000. Institutional investors own 86.14% of the company’s stock.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.