AON (NYSE:AON) Price Target Raised to $400.00

AON (NYSE:AON) had its price target upped by analysts at Royal Bank of Canada from $390.00 to $400.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 8.06% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays raised their target price on AON from $394.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company upgraded AON from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $377.00 to $410.00 in a research note on Tuesday, January 14th. TD Cowen increased their price target on AON from $413.00 to $432.00 in a research note on Thursday, October 24th. Bank of America upped their price objective on AON from $345.00 to $375.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Finally, Evercore ISI raised AON from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $407.00 to $420.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $377.53.

AON Stock Performance

AON stock traded down $0.00 during mid-day trading on Monday, reaching $370.15. 153,281 shares of the stock traded hands, compared to its average volume of 1,064,654. The stock has a market capitalization of $80.05 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.40 and a quick ratio of 2.05. The business’s 50-day moving average is $366.35 and its 200-day moving average is $354.50. AON has a 12-month low of $268.06 and a 12-month high of $395.33.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.25 by $0.17. AON had a net margin of 16.91% and a return on equity of 70.84%. During the same period in the prior year, the business earned $3.89 EPS. As a group, sell-side analysts predict that AON will post 17.39 EPS for the current fiscal year.

Insider Buying and Selling at AON

In other news, insider Lisa Stevens sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $387.68, for a total transaction of $494,292.00. Following the completion of the transaction, the insider now directly owns 8,077 shares of the company’s stock, valued at $3,131,291.36. This represents a 13.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mindy F. Simon sold 650 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $394.34, for a total transaction of $256,321.00. Following the transaction, the chief operating officer now owns 1,816 shares of the company’s stock, valued at approximately $716,121.44. This trade represents a 26.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On AON

A number of hedge funds have recently modified their holdings of AON. Diamond Hill Capital Management Inc. acquired a new stake in shares of AON during the 3rd quarter worth approximately $336,375,000. Vontobel Holding Ltd. raised its position in AON by 150.4% in the third quarter. Vontobel Holding Ltd. now owns 96,321 shares of the financial services provider’s stock valued at $33,326,000 after purchasing an additional 57,847 shares during the period. State Street Corp grew its holdings in shares of AON by 0.4% during the 3rd quarter. State Street Corp now owns 8,844,121 shares of the financial services provider’s stock worth $3,059,977,000 after purchasing an additional 32,417 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of AON by 13.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 165,741 shares of the financial services provider’s stock worth $57,345,000 after purchasing an additional 20,084 shares during the last quarter. Finally, Retireful LLC acquired a new position in AON in the third quarter valued at about $759,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.