AON (NYSE:AON) Cut to “Strong Sell” at Zacks Research

AON (NYSE:AON) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research firms also recently weighed in on AON. Roth Capital set a $380.00 target price on AON and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Piper Sandler reduced their price target on shares of AON from $391.00 to $349.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. Bank of America lifted their price target on shares of AON from $298.00 to $327.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 15th. Citigroup started coverage on shares of AON in a report on Monday, September 21st. They issued a “buy” rating and a $435.00 price objective for the company. Finally, Wall Street Zen cut shares of AON from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $367.59.

AON Stock Up 0.4%

Shares of AON stock opened at $303.15 on Monday. The business has a 50-day moving average price of $303.87 and a two-hundred day moving average price of $326.56. AON has a 12-month low of $266.33 and a 12-month high of $382.34.

AON (NYSE:AON) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, beating the consensus estimate of $3.80 by $0.01. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. AON’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.49 earnings per share. On average, sell-side analysts forecast that AON will post 18.73 EPS for the current year.

Insider Buying and Selling at AON

In other AON news, Director Lester Knight purchased 20,000 shares of AON stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $327.48 per share, for a total transaction of $6,549,600.00. Following the acquisition, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On AON

Several institutional investors and hedge funds have recently bought and sold shares of AON. Diversify Advisory Services LLC boosted its stake in AON by 5,225.7% during the third quarter. Diversify Advisory Services LLC now owns 194,070 shares of the financial services provider’s stock worth $53,713,000 after acquiring an additional 190,426 shares in the last quarter. NBT Bank N.A. purchased a new stake in AON in the third quarter worth about $10,117,000. CYBER HORNET ETFs LLC grew its holdings in AON by 4,903.4% in the second quarter. CYBER HORNET ETFs LLC now owns 29,470 shares of the financial services provider’s stock worth $9,775,000 after purchasing an additional 28,881 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of AON by 76,726.4% during the third quarter. Farmers & Merchants Investments Inc. now owns 113,703 shares of the financial services provider’s stock valued at $31,470,000 after purchasing an additional 113,555 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of 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. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Company Profile

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.