Piper Sandler Raises AON (NYSE:AON) Price Target to $335.00

AON (NYSE:AON) had its target price boosted by equities research analysts at Piper Sandler from $312.00 to $335.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 5.62% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company cut their target price on shares of AON from $289.00 to $287.00 and set an “underweight” rating for the company in a research report on Tuesday, July 2nd. Morgan Stanley lowered their price target on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of AON in a report on Tuesday, June 18th. Keefe, Bruyette & Woods raised their price objective on shares of AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Finally, Citigroup assumed coverage on shares of AON in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 target price for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, AON has a consensus rating of “Hold” and a consensus target price of $323.93.

AON Stock Down 1.8 %

AON stock traded down $5.82 during midday trading on Monday, reaching $317.18. The company had a trading volume of 91,305 shares, compared to its average volume of 1,290,494. The company has a 50 day moving average of $292.59 and a two-hundred day moving average of $302.68. The company has a market capitalization of $68.96 billion, a P/E ratio of 24.86, a PEG ratio of 2.16 and a beta of 0.91. AON has a 1 year low of $268.06 and a 1 year high of $344.68. The company has a current ratio of 2.42, a quick ratio of 4.13 and a debt-to-equity ratio of 2.92.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the business posted $2.76 EPS. AON’s revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts expect that AON will post 15.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lester B. Knight acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the purchase, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On AON

A number of large investors have recently made changes to their positions in AON. Blue Trust Inc. grew its holdings in AON by 20.7% during the 4th quarter. Blue Trust Inc. now owns 543 shares of the financial services provider’s stock valued at $158,000 after buying an additional 93 shares in the last quarter. Oak Thistle LLC bought a new position in AON in the fourth quarter worth approximately $3,203,000. Trust Co. of Oklahoma grew its position in shares of AON by 6.8% in the 4th quarter. Trust Co. of Oklahoma now owns 1,042 shares of the financial services provider’s stock worth $303,000 after buying an additional 66 shares during the last quarter. DAVENPORT & Co LLC increased its position in AON by 2.8% during the 4th quarter. DAVENPORT & Co LLC now owns 275,043 shares of the financial services provider’s stock valued at $79,880,000 after buying an additional 7,382 shares in the last quarter. Finally, Carderock Capital Management Inc. raised its holdings in shares of AON by 1.8% in the fourth quarter. Carderock Capital Management Inc. now owns 25,768 shares of the financial services provider’s stock worth $7,499,000 after buying an additional 462 shares during the last quarter. 86.14% of the stock is currently owned by 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.