AON (NYSE:AON) Price Target Cut to $345.00 by Analysts at Bank of America

AON (NYSE:AON) had its target price dropped by stock analysts at Bank of America from $378.00 to $345.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s target price points to a potential upside of 21.04% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada cut their price objective on shares of AON from $342.00 to $325.00 and set a “sector perform” rating for the company in a report on Monday, February 5th. Keefe, Bruyette & Woods lifted their price target on shares of AON from $294.00 to $312.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on AON from $318.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley upped their price objective on AON from $325.00 to $327.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, TD Cowen initiated coverage on shares of AON in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $390.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, AON has a consensus rating of “Hold” and a consensus price target of $330.92.

AON Price Performance

Shares of NYSE AON opened at $285.03 on Monday. AON has a 1 year low of $268.06 and a 1 year high of $347.37. The firm has a fifty day moving average price of $317.11 and a 200-day moving average price of $313.97. The stock has a market cap of $56.58 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.72 and a beta of 0.86.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the business earned $5.17 earnings per share. AON’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that AON will post 15.82 EPS for the current year.

Insider Buying and Selling

In other AON news, Director Lester B. Knight bought 50,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were purchased at an average price of $301.97 per share, with a total value of $15,098,500.00. Following the completion of the purchase, the director now owns 134,000 shares in the company, valued at approximately $40,463,980. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Michael Neller sold 750 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $312.00, for a total value of $234,000.00. Following the transaction, the insider now owns 3,869 shares of the company’s stock, valued at approximately $1,207,128. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lester B. Knight bought 50,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was bought at an average price of $301.97 per share, for a total transaction of $15,098,500.00. Following the completion of the purchase, the director now directly owns 134,000 shares in the company, valued at $40,463,980. The disclosure for this purchase can be found here. Insiders have sold 74,532 shares of company stock valued at $23,335,805 in the last ninety days. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On AON

Hedge funds have recently made changes to their positions in the company. Integrated Advisors Network LLC raised its holdings in shares of AON by 5.1% in the third quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 32 shares in the last quarter. Capital Planning Advisors LLC boosted its stake in shares of AON by 0.3% during the third quarter. Capital Planning Advisors LLC now owns 11,793 shares of the financial services provider’s stock valued at $3,824,000 after purchasing an additional 35 shares in the last quarter. Valley Wealth Managers Inc. increased its holdings in AON by 4.9% during the third quarter. Valley Wealth Managers Inc. now owns 777 shares of the financial services provider’s stock valued at $252,000 after buying an additional 36 shares during the period. Lincoln National Corp raised its stake in AON by 0.7% in the third quarter. Lincoln National Corp now owns 5,446 shares of the financial services provider’s stock worth $1,766,000 after buying an additional 37 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in AON by 2.2% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 37 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.