Wells Fargo & Company Lowers AON (NYSE:AON) Price Target to $287.00

AON (NYSE:AON) had its price objective reduced by stock analysts at Wells Fargo & Company from $289.00 to $287.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 2.64% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AON from $318.00 to $353.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods increased 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. Citigroup began coverage on AON in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 target price on the stock. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $345.00 to $306.00 in a report on Wednesday, May 22nd. Finally, Piper Sandler reduced their price objective on AON from $326.00 to $312.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $321.71.

AON Trading Down 0.3 %

AON stock opened at $294.77 on Tuesday. The firm’s fifty day moving average price is $288.96 and its two-hundred day moving average price is $302.09. The firm has a market capitalization of $64.09 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. AON has a 1-year low of $268.06 and a 1-year high of $344.68.

AON (NYSE:AON) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the firm posted $5.17 EPS. AON’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts forecast that AON will post 15.48 EPS for the current year.

Insider Activity at AON

In other AON news, Director Lester B. Knight acquired 10,000 shares of AON stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now owns 139,000 shares of the company’s stock, valued at $38,448,790. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AON

Hedge funds have recently made changes to their positions in the stock. Truist Financial Corp increased its position in shares of AON by 9.5% during the third quarter. Truist Financial Corp now owns 40,199 shares of the financial services provider’s stock valued at $13,033,000 after buying an additional 3,477 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of AON by 7.6% in the third quarter. Glenmede Trust Co. NA now owns 18,051 shares of the financial services provider’s stock worth $5,852,000 after purchasing an additional 1,276 shares during the period. Alps Advisors Inc. purchased a new stake in shares of AON in the third quarter worth $3,611,000. Lido Advisors LLC boosted its stake in AON by 6.5% during the third quarter. Lido Advisors LLC now owns 3,221 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 196 shares during the period. Finally, Sei Investments Co. increased its stake in AON by 28.7% in the 3rd quarter. Sei Investments Co. now owns 293,216 shares of the financial services provider’s stock worth $95,065,000 after acquiring an additional 65,401 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Company Profile

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.