AON (AON) Price Target Increased to $180.00 by Analysts at Citigroup
AON (NYSE:AON) had its target price increased by Citigroup from $167.00 to $180.00 in a research note released on Friday morning. They currently have a buy rating on the financial services provider’s stock.
A number of other research analysts have also weighed in on AON. Credit Suisse Group began coverage on shares of AON in a research note on Tuesday, August 7th. They issued a neutral rating and a $154.00 price target on the stock. Zacks Investment Research lowered shares of AON from a buy rating to a hold rating in a research note on Friday, July 6th. Raymond James raised shares of AON from an underperform rating to an outperform rating in a research note on Tuesday, September 25th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $164.00 price target on shares of AON in a research note on Sunday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $157.50.
AON traded down $0.38 during trading on Friday, reaching $147.84. The company had a trading volume of 1,045,382 shares, compared to its average volume of 993,849. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.63 and a current ratio of 1.63. AON has a 12 month low of $130.87 and a 12 month high of $158.77. The firm has a market cap of $37.32 billion, a P/E ratio of 22.67, a PEG ratio of 1.64 and a beta of 0.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, October 31st. AON’s dividend payout ratio is presently 24.54%.
In related news, CEO Caroline Grace sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $155.00, for a total transaction of $620,000.00. Following the transaction, the chief executive officer now directly owns 45,796 shares in the company, valued at $7,098,380. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Neller sold 750 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $143.58, for a total transaction of $107,685.00. Following the transaction, the insider now owns 787 shares in the company, valued at $112,997.46. The disclosure for this sale can be found here. In the last three months, insiders sold 8,750 shares of company stock worth $1,327,685. 0.42% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of AON. Massachusetts Financial Services Co. MA increased its holdings in AON by 7.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 21,250,960 shares of the financial services provider’s stock worth $2,914,992,000 after buying an additional 1,436,583 shares during the last quarter. Cantillon Capital Management LLC increased its holdings in AON by 53.2% during the second quarter. Cantillon Capital Management LLC now owns 1,397,690 shares of the financial services provider’s stock worth $191,721,000 after buying an additional 485,561 shares during the last quarter. Millennium Management LLC increased its holdings in AON by 381.6% during the first quarter. Millennium Management LLC now owns 487,752 shares of the financial services provider’s stock worth $68,446,000 after buying an additional 386,484 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in AON during the second quarter worth $25,851,000. Finally, Mawer Investment Management Ltd. increased its holdings in shares of AON by 2.9% in the second quarter. Mawer Investment Management Ltd. now owns 5,522,249 shares of the financial services provider’s stock valued at $757,487,000 after purchasing an additional 154,272 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.
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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