AON (NYSE:AON) Sets New 1-Year High at $353.40

Aon plc (NYSE:AON) reached a new 52-week high on Monday . The company traded as high as $353.40 and last traded at $353.40, with a volume of 41536 shares. The stock had previously closed at $347.85.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AON. JPMorgan Chase & Co. increased their target price on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft increased their price objective on AON from $311.00 to $353.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Barclays started coverage on AON in a research note on Wednesday, September 4th. They set an “overweight” rating and a $394.00 target price for the company. Piper Sandler boosted their price objective on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Bank of America cut shares of AON from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $345.00 to $306.00 in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, AON currently has an average rating of “Hold” and an average target price of $337.27.

AON Stock Performance

The company has a market cap of $76.48 billion, a PE ratio of 27.26, a P/E/G ratio of 2.24 and a beta of 0.92. The stock’s 50-day simple moving average is $325.51 and its 200 day simple moving average is $310.19. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42.

AON (NYSE:AON) last announced 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 business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. AON’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.76 EPS. As a group, equities analysts anticipate that Aon plc will post 15.23 EPS for the current year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.77%. AON’s dividend payout ratio (DPR) is presently 21.16%.

Institutional Investors Weigh In On AON

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Frazier Financial Advisors LLC acquired a new stake in AON in the 4th quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new stake in shares of AON in the second quarter valued at approximately $31,000. Rise Advisors LLC acquired a new position in shares of AON during the 1st quarter worth approximately $37,000. Nemes Rush Group LLC purchased a new stake in AON in the 2nd quarter valued at approximately $45,000. Finally, Bruce G. Allen Investments LLC grew its holdings in AON by 52.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 168 shares of the financial services provider’s stock valued at $49,000 after buying an additional 58 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.