AON (NYSE:AON) Price Target Raised to $416.00

AON (NYSE:AON) had its price objective lifted by Keefe, Bruyette & Woods from $410.00 to $416.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on AON. JPMorgan Chase & Co. cut their price objective on shares of AON from $436.00 to $433.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Citigroup upgraded AON from a “neutral” rating to a “buy” rating and set a $402.00 target price on the stock in a research report on Monday, November 3rd. Barclays restated an “equal weight” rating and issued a $379.00 price target (down previously from $420.00) on shares of AON in a research report on Thursday, November 20th. Roth Capital reaffirmed a “buy” rating and set a $390.00 price objective on shares of AON in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company reduced their target price on shares of AON from $451.00 to $448.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $411.35.

AON Price Performance

Shares of NYSE:AON opened at $352.13 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $75.68 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 1.77 and a beta of 0.84. The firm’s 50 day moving average price is $349.23 and its 200-day moving average price is $355.33. AON has a twelve month low of $323.73 and a twelve month high of $412.97.

AON (NYSE:AON) last announced its earnings results on Friday, October 31st. The financial services provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.14. AON had a net margin of 15.96% and a return on equity of 48.88%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the business posted $2.72 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts expect that AON will post 17.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dodge & Cox purchased a new position in shares of AON in the third quarter valued at $1,235,437,000. Norges Bank purchased a new position in shares of AON in the 2nd quarter worth $754,671,000. Viking Global Investors LP bought a new stake in shares of AON in the 3rd quarter worth about $504,424,000. Balyasny Asset Management L.P. raised its position in shares of AON by 40,219.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock valued at $301,922,000 after buying an additional 844,615 shares in the last quarter. Finally, Independent Franchise Partners LLP lifted its holdings in shares of AON by 41.6% in the 3rd quarter. Independent Franchise Partners LLP now owns 2,096,486 shares of the financial services provider’s stock valued at $747,565,000 after acquiring an additional 615,570 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.