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

AON (NYSE:AON) had its price objective raised by Wells Fargo & Company from $300.00 to $315.00 in a report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

AON has been the subject of several other reports. Barclays assumed coverage on AON in a research note on Wednesday, September 4th. They issued an overweight rating and a $394.00 price objective for the company. Evercore ISI lifted their price objective on shares of AON from $338.00 to $384.00 and gave the company an in-line rating in a research note on Wednesday. Keefe, Bruyette & Woods raised shares of AON from an underperform rating to an outperform rating and raised their target price for the stock from $313.00 to $380.00 in a report on Tuesday, July 30th. Piper Sandler upped their price target on shares of AON from $312.00 to $335.00 and gave the company a neutral rating in a report on Monday, July 29th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $335.00 price objective on shares of AON in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $347.06.

AON Stock Performance

Shares of AON stock opened at $355.15 on Thursday. The company has a 50 day moving average price of $342.73 and a 200 day moving average price of $314.29. The firm has a market capitalization of $77.15 billion, a P/E ratio of 28.39, a PEG ratio of 2.28 and a beta of 0.92. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.92. AON has a 52 week low of $268.06 and a 52 week high of $360.95.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.76 EPS. Sell-side analysts expect that AON will post 15.22 EPS for the current year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.76%. AON’s payout ratio is 21.58%.

Institutional Investors Weigh In On AON

Large investors have recently modified their holdings of the business. Wesbanco Bank Inc. acquired a new position in AON during the third quarter worth about $3,638,000. CX Institutional grew its position in shares of AON by 0.5% in the third quarter. CX Institutional now owns 10,426 shares of the financial services provider’s stock valued at $3,607,000 after purchasing an additional 49 shares in the last quarter. Sapient Capital LLC lifted its position in AON by 367.7% during the third quarter. Sapient Capital LLC now owns 3,428 shares of the financial services provider’s stock worth $1,186,000 after buying an additional 2,695 shares in the last quarter. CVA Family Office LLC grew its holdings in AON by 8.4% in the 3rd quarter. CVA Family Office LLC now owns 373 shares of the financial services provider’s stock valued at $129,000 after buying an additional 29 shares in the last quarter. Finally, HCR Wealth Advisors acquired a new stake in shares of AON in the 3rd quarter worth $234,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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.