AON (NYSE:AON) Price Target Lowered to $406.00 at Wells Fargo & Company

AON (NYSE:AON) had its target price reduced by stock analysts at Wells Fargo & Company from $409.00 to $406.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 14.78% from the company’s previous close.

A number of other equities research analysts also recently weighed in on AON. Barclays boosted their price objective on shares of AON from $372.00 to $382.00 and gave the company an “equal weight” rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered their target price on AON from $404.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday. Piper Sandler dropped their price target on AON from $360.00 to $355.00 and set an “overweight” rating on the stock in a research report on Monday, June 15th. Mizuho raised their price target on AON from $389.00 to $426.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley upped their price objective on AON from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, AON currently has an average rating of “Moderate Buy” and a consensus target price of $402.19.

AON Stock Down 1.1%

AON traded down $3.80 on Thursday, reaching $353.71. The company’s stock had a trading volume of 241,494 shares, compared to its average volume of 1,501,545. The stock has a market cap of $75.55 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71. AON has a 1 year low of $304.59 and a 1 year high of $381.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day moving average is $325.72 and its 200 day moving average is $330.73.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.37 by $0.11. The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $5.67 EPS. As a group, research analysts forecast that AON will post 19.09 EPS for the current fiscal year.

Hedge Funds Weigh In On AON

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dodge & Cox lifted its holdings in shares of AON by 126.6% during the fourth quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock valued at $2,770,975,000 after purchasing an additional 4,387,773 shares during the last quarter. Norges Bank purchased a new position in AON in the 4th quarter worth about $1,155,981,000. Viking Global Investors LP acquired a new stake in AON during the 3rd quarter worth about $504,424,000. Balyasny Asset Management L.P. lifted its stake in AON by 40,219.8% during the third quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock valued at $301,922,000 after buying an additional 844,615 shares in the last quarter. Finally, Southpoint Capital Advisors LP purchased a new stake in AON during the fourth quarter valued at about $229,372,000. Institutional investors own 86.14% of the company’s stock.

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.