AON (NYSE:AON) Price Target Cut to $315.00

AON (NYSE:AON) had its target price cut by Royal Bank of Canada from $325.00 to $315.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 11.70% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler cut their price objective on shares of AON from $326.00 to $312.00 and set a “neutral” rating for the company in a report on Monday. UBS Group cut their price objective on shares of AON from $333.00 to $308.00 and set a “neutral” rating for the company in a report on Monday, February 5th. The Goldman Sachs Group cut their price objective on shares of AON from $350.00 to $310.00 and set a “neutral” rating for the company in a report on Tuesday, January 9th. JPMorgan Chase & Co. increased their target price on AON from $318.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Morgan Stanley increased their target price on AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $329.69.

AON Trading Up 0.6 %

AON stock opened at $282.01 on Monday. AON has a 12-month low of $268.06 and a 12-month high of $347.37. The firm has a 50 day moving average of $315.83 and a 200 day moving average of $313.36. The firm has a market capitalization of $55.98 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.72 and a beta of 0.86.

AON (NYSE:AON) last announced its quarterly earnings data 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 company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the business earned $5.17 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that AON will post 15.82 EPS for the current year.

Insider Buying and Selling

In related news, CFO Christa Davies sold 20,618 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the completion of the sale, the chief financial officer now directly owns 159,570 shares in the company, valued at $49,690,098. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Lisa Stevens sold 13,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $315.26, for a total transaction of $4,098,380.00. Following the completion of the sale, the insider now directly owns 10,073 shares of the company’s stock, valued at $3,175,613.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christa Davies sold 20,618 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $311.40, for a total transaction of $6,420,445.20. Following the sale, the chief financial officer now directly owns 159,570 shares of the company’s stock, valued at $49,690,098. The disclosure for this sale can be found here. Insiders sold a total of 74,532 shares of company stock worth $23,335,805 over the last three months. 1.15% of the stock is owned by insiders.

Institutional Trading of AON

A number of large investors have recently made changes to their positions in the stock. Norden Group LLC purchased a new stake in shares of AON during the first quarter valued at $2,044,000. HB Wealth Management LLC boosted its stake in shares of AON by 17.2% during the first quarter. HB Wealth Management LLC now owns 2,985 shares of the financial services provider’s stock valued at $996,000 after purchasing an additional 439 shares during the period. Mayflower Financial Advisors LLC raised its holdings in shares of AON by 19.0% in the first quarter. Mayflower Financial Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 193 shares in the last quarter. Tower Bridge Advisors raised its holdings in shares of AON by 0.3% in the first quarter. Tower Bridge Advisors now owns 48,229 shares of the financial services provider’s stock valued at $16,095,000 after acquiring an additional 122 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in shares of AON in the first quarter valued at about $27,031,000. 86.14% of the stock is 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.