AON (NYSE:AON) Given New $345.00 Price Target at Bank of America

AON (NYSE:AON) had its price target dropped by equities researchers at Bank of America from $378.00 to $345.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s target price would indicate a potential upside of 21.04% from the company’s previous close.

A number of other brokerages have also weighed in on AON. TD Cowen assumed coverage on AON in a research note on Wednesday, January 10th. They set an “outperform” rating and a $390.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of AON from $318.00 to $353.00 and gave the company an “overweight” rating in a report on Monday, April 8th. The Goldman Sachs Group decreased their price objective on shares of AON from $350.00 to $310.00 and set a “neutral” rating for the company in a report on Tuesday, January 9th. Keefe, Bruyette & Woods increased their price target on shares of AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley upped their price objective on AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $330.92.

AON Stock Performance

Shares of NYSE:AON opened at $285.03 on Monday. The company has a market cap of $56.58 billion, a P/E ratio of 22.34, a PEG ratio of 1.72 and a beta of 0.86. AON has a one year low of $268.06 and a one year high of $347.37. The business’s 50-day simple moving average is $317.11 and its 200 day simple moving average is $313.97.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.14 billion. AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.17 EPS. Analysts predict that AON will post 15.82 earnings per share for the current year.

Insider Activity

In other news, Director Lester B. Knight acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were acquired at an average price of $301.97 per share, with a total value of $15,098,500.00. Following the acquisition, the director now directly owns 134,000 shares in the company, valued at $40,463,980. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Lester B. Knight purchased 50,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were bought at an average price of $301.97 per share, for a total transaction of $15,098,500.00. Following the completion of the purchase, the director now owns 134,000 shares of the company’s stock, valued at $40,463,980. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christa Davies sold 40,164 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $313.29, for a total value of $12,582,979.56. Following the transaction, the chief financial officer now owns 159,570 shares of the company’s stock, valued at $49,991,685.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,532 shares of company stock valued at $23,335,805. 1.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AON

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of AON in the 4th quarter worth approximately $423,030,000. Fiera Capital Corp boosted its stake in AON by 410.9% during the 3rd quarter. Fiera Capital Corp now owns 654,446 shares of the financial services provider’s stock valued at $212,184,000 after purchasing an additional 526,353 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of AON by 44.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 950,153 shares of the financial services provider’s stock valued at $276,514,000 after purchasing an additional 290,936 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of AON by 401.6% in the first quarter. Assenagon Asset Management S.A. now owns 344,891 shares of the financial services provider’s stock valued at $115,097,000 after buying an additional 276,131 shares during the period. Finally, FIL Ltd grew its holdings in AON by 36.1% during the fourth quarter. FIL Ltd now owns 1,030,177 shares of the financial services provider’s stock worth $299,802,000 after acquiring an additional 273,141 shares during the period. Institutional investors own 86.14% of the company’s stock.

AON Company Profile

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.