AON (NYSE:AON) had its price target hoisted by Citigroup from $167.00 to $180.00 in a research report released on Friday. Citigroup currently has a buy rating on the financial services provider’s stock.
AON has been the subject of several other reports. Zacks Investment Research downgraded shares of AON from a buy rating to a hold rating in a report on Friday, July 6th. Keefe, Bruyette & Woods reissued a buy rating and set a $164.00 price target on shares of AON in a report on Sunday, July 29th. Credit Suisse Group assumed coverage on shares of AON in a report on Tuesday, August 7th. They set a neutral rating and a $154.00 price target for the company. Finally, Raymond James raised shares of AON from an underperform rating to an outperform rating in a report on Tuesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $157.50.
AON stock traded down $0.38 during trading on Friday, hitting $147.84. 1,045,382 shares of the stock traded hands, compared to its average volume of 993,849. AON has a one year low of $130.87 and a one year high of $158.77. The company has a market capitalization of $37.32 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.64 and a beta of 0.99. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.23.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.08%. The ex-dividend date is Wednesday, October 31st. AON’s payout ratio is presently 24.54%.
In other news, CEO Caroline Grace sold 4,000 shares of AON stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $150.00, for a total transaction of $600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey C. Campbell purchased 5,550 shares of the stock in a transaction dated Monday, August 6th. The shares were acquired at an average price of $143.84 per share, with a total value of $798,312.00. Following the transaction, the director now owns 7,084 shares in the company, valued at $1,018,962.56. The disclosure for this purchase can be found here. Insiders sold a total of 8,750 shares of company stock valued at $1,327,685 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.
Several large investors have recently modified their holdings of AON. Stifel Financial Corp grew its position in shares of AON by 20.3% during the 1st quarter. Stifel Financial Corp now owns 4,340 shares of the financial services provider’s stock worth $609,000 after buying an additional 731 shares during the period. Principal Financial Group Inc. grew its position in shares of AON by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,079,415 shares of the financial services provider’s stock worth $853,124,000 after buying an additional 23,060 shares during the period. Allianz Asset Management GmbH grew its position in shares of AON by 20.8% during the 1st quarter. Allianz Asset Management GmbH now owns 70,870 shares of the financial services provider’s stock worth $9,945,000 after buying an additional 12,183 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in shares of AON by 7.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,329 shares of the financial services provider’s stock worth $1,166,000 after buying an additional 550 shares during the period. Finally, LPL Financial LLC grew its position in shares of AON by 9.5% during the 1st quarter. LPL Financial LLC now owns 23,466 shares of the financial services provider’s stock worth $3,293,000 after buying an additional 2,029 shares during the period. Institutional investors own 83.42% of the company’s stock.
AON Company Profile
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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