AON (NYSE:AON) Research Coverage Started at Citigroup

Citigroup started coverage on shares of AON (NYSE:AON) in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $309.00 target price on the financial services provider’s stock.

A number of other analysts have also commented on AON. Wells Fargo & Company reduced their price target on shares of AON from $300.00 to $289.00 and set an underweight rating for the company in a research note on Monday, April 29th. UBS Group decreased their target price on shares of AON from $333.00 to $308.00 and set a neutral rating for the company in a research note on Monday, February 5th. Bank of America downgraded AON from a neutral rating to an underperform rating and dropped their price target for the stock from $345.00 to $306.00 in a research note on Wednesday. Piper Sandler reduced their price objective on AON from $326.00 to $312.00 and set a neutral rating for the company in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their target price on AON from $318.00 to $353.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $325.43.

AON Trading Up 0.5 %

AON stock opened at $280.75 on Wednesday. The stock’s 50 day simple moving average is $305.00 and its 200 day simple moving average is $309.34. AON has a 12-month low of $268.06 and a 12-month high of $347.37. The stock has a market capitalization of $61.04 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.85 and a beta of 0.90.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (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 previous year, the company earned $5.17 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts predict that AON will post 15.48 earnings per share for the current year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.675 per share. The ex-dividend date was Tuesday, April 30th. This represents a $2.70 annualized dividend and a yield of 0.96%. This is an increase from AON’s previous quarterly dividend of $0.62. AON’s payout ratio is currently 21.16%.

Insider Transactions at AON

In other news, Director Lester B. Knight bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the acquisition, the director now owns 139,000 shares of the company’s stock, valued at approximately $38,448,790. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AON. Integrated Advisors Network LLC boosted its position in shares of AON by 5.1% during the third quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 32 shares during the last quarter. Valley Wealth Managers Inc. grew its position in shares of 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 purchasing an additional 36 shares in the last quarter. Lincoln National Corp lifted its position in shares of 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. Atria Wealth Solutions Inc. boosted its stake in AON by 2.2% during the third quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider’s stock valued at $560,000 after buying an additional 37 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in AON by 1.8% during the 4th quarter. Signaturefd LLC now owns 2,149 shares of the financial services provider’s stock valued at $625,000 after buying an additional 38 shares in the last quarter. 86.14% of the stock is currently owned by 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.