AON (NYSE:AON) Upgraded to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of AON (NYSE:AON) from an underweight rating to an equal weight rating in a research note released on Monday morning, MarketBeat.com reports. The firm currently has $377.00 price target on the financial services provider’s stock, up from their prior price target of $315.00.

AON has been the topic of several other research reports. Barclays began coverage on shares of AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 price objective on the stock. Morgan Stanley dropped their price objective 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. JPMorgan Chase & Co. lifted their target price on AON from $353.00 to $379.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Bank of America raised their price objective on AON from $345.00 to $375.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $355.75.

AON Price Performance

NYSE AON opened at $369.43 on Monday. The stock has a market capitalization of $80.25 billion, a PE ratio of 31.18, a P/E/G ratio of 2.43 and a beta of 0.92. The stock has a 50-day simple moving average of $351.06 and a 200 day simple moving average of $317.89. The company has a debt-to-equity ratio of 2.66, a quick ratio of 2.42 and a current ratio of 2.05. AON has a twelve month low of $268.06 and a twelve month high of $389.21.

AON Dividend Announcement

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 issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, November 1st. AON’s dividend payout ratio is currently 22.78%.

Institutional Trading of AON

Large investors have recently added to or reduced their stakes in the company. Farallon Capital Management LLC grew its position in AON by 196.7% during the 2nd quarter. Farallon Capital Management LLC now owns 1,875,200 shares of the financial services provider’s stock worth $550,521,000 after acquiring an additional 1,243,200 shares during the last quarter. Veritas Asset Management LLP grew its holdings in shares of AON by 41.6% during the third quarter. Veritas Asset Management LLP now owns 3,010,557 shares of the financial services provider’s stock worth $1,041,623,000 after purchasing an additional 883,761 shares during the last quarter. Meritage Group LP acquired a new stake in shares of AON in the first quarter valued at $258,471,000. Bank of New York Mellon Corp lifted its position in AON by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock worth $587,445,000 after buying an additional 548,563 shares in the last quarter. Finally, Stone Point Capital LLC bought a new stake in AON during the 2nd quarter worth about $151,808,000. 86.14% of the stock is owned by 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.