AON (NYSE:AON) Price Target Increased to $375.00 by Analysts at Bank of America

AON (NYSE:AON) had its price objective increased by Bank of America from $345.00 to $375.00 in a report released on Thursday, Benzinga reports. Bank of America currently has an underperform rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada restated a sector perform rating and issued a $335.00 price target on shares of AON in a research report on Monday, August 5th. Piper Sandler raised their price objective on AON from $312.00 to $335.00 and gave the stock a neutral rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on AON from $311.00 to $353.00 and gave the company a hold rating in a research report on Monday, August 26th. Barclays initiated coverage on AON in a research report on Wednesday, September 4th. They issued an overweight rating and a $394.00 target price for the company. Finally, Jefferies Financial Group increased their price objective on shares of AON from $344.00 to $365.00 and gave the company a hold rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $347.06.

AON Trading Up 0.4 %

Shares of NYSE:AON opened at $355.15 on Thursday. AON has a 52-week low of $268.06 and a 52-week high of $360.95. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The company has a market cap of $77.15 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.28 and a beta of 0.92. The stock’s 50-day moving average is $342.73 and its 200-day moving average is $314.15.

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

AON Announces Dividend

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

Hedge Funds Weigh In On AON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of AON by 0.4% in the first quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock valued at $5,894,053,000 after buying an additional 64,500 shares during the period. Massachusetts Financial Services Co. MA increased its stake in AON by 2.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,552,569 shares of the financial services provider’s stock valued at $3,685,183,000 after buying an additional 309,702 shares during the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of AON by 1.2% during the 2nd quarter. Mawer Investment Management Ltd. now owns 4,405,780 shares of the financial services provider’s stock worth $1,293,449,000 after buying an additional 52,099 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in AON by 4.7% during the first quarter. Sustainable Growth Advisers LP now owns 2,805,199 shares of the financial services provider’s stock worth $936,151,000 after acquiring an additional 127,173 shares in the last quarter. Finally, Independent Franchise Partners LLP raised its stake in shares of AON by 2.1% during the 2nd quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock worth $707,390,000 after purchasing an additional 49,161 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

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.