AON (NYSE:AON) Downgraded by Wolfe Research to Strong Sell

AON (NYSE:AON) was downgraded by stock analysts at Wolfe Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday, Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of AON from $396.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. UBS Group reiterated a “neutral” rating on shares of AON in a report on Monday, August 31st. Evercore restated an “outperform” rating and issued a $423.00 price target on shares of AON in a research note on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of AON in a research report on Tuesday, September 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on AON from $412.00 to $417.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AON presently has an average rating of “Moderate Buy” and a consensus price target of $399.12.

AON Stock Performance

Shares of AON stock opened at $303.19 on Friday. AON has a 12 month low of $302.44 and a 12 month high of $382.34. The firm has a market capitalization of $64.31 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.56 and a beta of 0.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34. The business has a fifty day simple moving average of $350.34 and a two-hundred day simple moving average of $333.70.

AON (NYSE:AON) last released its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the firm earned $3.49 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that AON will post 18.94 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Darren Zeidel sold 1,900 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the sale, the general counsel owned 11,504 shares of the company’s stock, valued at $4,345,751.04. This trade represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lester B. Knight acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were bought at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the acquisition, the director directly owned 163,000 shares of the company’s stock, valued at $53,379,240. The trade was a 13.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 4,450 shares of company stock valued at $1,659,242 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AON

A number of large investors have recently added to or reduced their stakes in AON. Wealth Watch Advisors INC bought a new position in shares of AON during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in AON during the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new position in AON in the fourth quarter valued at about $29,000. Strive Asset Management LLC purchased a new position in AON in the third quarter worth about $35,000. Finally, Cornerstone Financial Management LLC bought a new stake in shares of AON during the 4th quarter valued at about $37,000. Institutional investors own 86.14% of the company’s stock.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.

Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.