AON (NYSE:AON) Trading Down 1.1%

Aon plc (NYSE:AON)’s stock price dropped 1.1% during mid-day trading on Friday . The company traded as low as $335.70 and last traded at $335.96. Approximately 59,075 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,264,159 shares. The stock had previously closed at $339.64.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AON shares. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $313.00 to $380.00 in a report on Tuesday, July 30th. Piper Sandler increased their price objective on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Morgan Stanley lowered their target price on shares of AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company increased their price target on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of AON from $353.00 to $379.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $330.21.

AON Stock Down 0.8 %

The company has a market cap of $73.17 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 2.19 and a beta of 0.91. The firm has a 50-day moving average price of $310.47 and a 200 day moving average price of $306.71. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.42 and a quick ratio of 2.42.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period in the prior year, the company earned $2.76 earnings per share. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. Sell-side analysts predict that Aon plc will post 15.25 EPS for the current year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, August 1st. AON’s dividend payout ratio is currently 21.16%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AON. Truist Financial Corp increased its stake in AON by 4.2% during the 2nd quarter. Truist Financial Corp now owns 25,980 shares of the financial services provider’s stock worth $7,627,000 after acquiring an additional 1,036 shares during the period. Regency Capital Management Inc. DE grew its holdings in shares of AON by 55.2% during the 2nd quarter. Regency Capital Management Inc. DE now owns 9,940 shares of the financial services provider’s stock worth $2,918,000 after purchasing an additional 3,535 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of AON by 88.6% in the second quarter. EP Wealth Advisors LLC now owns 3,818 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 1,794 shares during the period. Quarry LP acquired a new position in AON in the second quarter valued at about $101,000. Finally, NewEdge Advisors LLC lifted its position in AON by 50.5% during the second quarter. NewEdge Advisors LLC now owns 11,266 shares of the financial services provider’s stock worth $3,307,000 after purchasing an additional 3,781 shares during the period. 86.14% of the stock is 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.