AON (NYSE:AON) Hits New 52-Week High – Should You Buy?

Shares of Aon plc (NYSE:AON) reached a new 52-week high on Tuesday . The stock traded as high as $363.11 and last traded at $361.45, with a volume of 227794 shares traded. The stock had previously closed at $358.58.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America lifted their price objective on shares of AON from $345.00 to $375.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Evercore ISI raised their target price on AON from $338.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Morgan Stanley decreased their price target on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Barclays initiated coverage on shares of AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their target price on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, AON has an average rating of “Hold” and a consensus price target of $347.06.

AON Price Performance

The stock has a market capitalization of $77.73 billion, a PE ratio of 28.66, a PEG ratio of 2.28 and a beta of 0.92. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. The firm’s 50-day moving average price is $343.39 and its 200-day moving average price is $314.33.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.76 EPS. On average, equities analysts forecast that Aon plc will post 15.22 EPS for the current fiscal year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, November 1st. AON’s payout ratio is currently 21.58%.

Institutional Investors Weigh In On AON

Several hedge funds and other institutional investors have recently modified their holdings of the business. Y.D. More Investments Ltd purchased a new stake in AON in the second quarter worth $31,000. Rise Advisors LLC bought a new stake in AON during the 1st quarter valued at about $37,000. Nemes Rush Group LLC purchased a new stake in AON in the 2nd quarter valued at about $45,000. Bruce G. Allen Investments LLC boosted its holdings in shares of AON by 52.7% in the second quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 58 shares during the period. Finally, LRI Investments LLC bought a new position in shares of AON during the 1st quarter worth $55,000. 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.