Royal Bank of Canada Issues Positive Forecast for AON (NYSE:AON) Stock Price

AON (NYSE:AON) had its price objective lifted by research analysts at Royal Bank of Canada from $390.00 to $400.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 5.83% from the stock’s current price.

A number of other research firms have also recently commented on AON. BMO Capital Markets lifted their price target on shares of AON from $325.00 to $380.00 and gave the stock a “market perform” rating in a report on Monday, November 4th. Bank of America lifted their target price on AON from $345.00 to $375.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on AON from $379.00 to $394.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. TD Cowen upped their target price on shares of AON from $413.00 to $432.00 in a research report on Thursday, October 24th. Finally, Jefferies Financial Group increased their price objective on AON from $344.00 to $365.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $380.80.

AON Price Performance

AON stock opened at $377.95 on Monday. The company has a market capitalization of $81.74 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. AON has a 52-week low of $268.06 and a 52-week high of $395.33. The business has a 50-day simple moving average of $366.06 and a two-hundred day simple moving average of $355.03. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.05 and a current ratio of 1.40.

AON (NYSE:AON) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $4.25 by $0.17. AON had a net margin of 16.91% and a return on equity of 70.84%. During the same quarter last year, the company earned $3.89 EPS. Research analysts expect that AON will post 17.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lisa Stevens sold 1,275 shares of AON stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $387.68, for a total value of $494,292.00. Following the transaction, the insider now directly owns 8,077 shares in the company, valued at approximately $3,131,291.36. This trade represents a 13.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mindy F. Simon sold 650 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $394.34, for a total transaction of $256,321.00. Following the completion of the transaction, the chief operating officer now owns 1,816 shares of the company’s stock, valued at $716,121.44. This represents a 26.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On AON

Several institutional investors have recently added to or reduced their stakes in AON. Diamond Hill Capital Management Inc. acquired a new stake in shares of AON during the third quarter worth about $336,375,000. Veritas Asset Management LLP lifted its stake in AON by 41.6% during the 3rd quarter. Veritas Asset Management LLP now owns 3,010,557 shares of the financial services provider’s stock valued at $1,041,623,000 after acquiring an additional 883,761 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AON by 334.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,050,537 shares of the financial services provider’s stock valued at $363,475,000 after acquiring an additional 808,990 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AON by 15.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,564,824 shares of the financial services provider’s stock worth $921,182,000 after purchasing an additional 343,592 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in AON during the third quarter valued at $906,040,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.