Wells Fargo & Company Upgrades AON (NYSE:AON) to “Equal Weight”

AON (NYSE:AON) was upgraded by equities researchers at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued on Monday, Briefing.com reports. The firm presently has a $377.00 price objective on the financial services provider’s stock, up from their previous price objective of $315.00. Wells Fargo & Company‘s target price suggests a potential upside of 0.42% from the company’s previous close.

AON has been the topic of a number of other research reports. TD Cowen lifted their target price on AON from $413.00 to $432.00 in a research report on Thursday. Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $313.00 to $380.00 in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Morgan Stanley decreased their target price on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $335.00 price target on shares of AON in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $353.56.

AON Price Performance

AON stock opened at $375.44 on Monday. The company’s 50-day moving average price is $349.01 and its two-hundred day moving average price is $316.66. AON has a 12 month low of $268.06 and a 12 month high of $389.21. The company has a quick ratio of 2.42, a current ratio of 2.05 and a debt-to-equity ratio of 2.66. The firm has a market cap of $81.56 billion, a P/E ratio of 31.68, a P/E/G ratio of 2.43 and a beta of 0.92.

AON (NYSE:AON) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.45 by $0.27. AON had a net margin of 16.32% and a return on equity of 107.43%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. On average, analysts anticipate that AON will post 15.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AON

Hedge funds have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd bought a new position in shares of AON in the 2nd quarter worth $31,000. Eastern Bank acquired a new position in AON during the third quarter worth $43,000. Nemes Rush Group LLC bought a new position in shares of AON in the second quarter valued at $45,000. Bruce G. Allen Investments LLC grew its holdings in shares of AON by 52.7% during the second 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. Finally, LRI Investments LLC bought a new stake in shares of AON during the first quarter worth about $55,000. Institutional investors and hedge funds 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.