AON (NYSE:AON) Price Target Cut to $315.00 by Analysts at Royal Bank of Canada

AON (NYSE:AON) had its target price trimmed by Royal Bank of Canada from $325.00 to $315.00 in a report released on Monday, Benzinga reports. The firm currently has a sector perform rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on the stock. Morgan Stanley upped their target price on shares of AON from $325.00 to $327.00 and gave the stock an equal weight rating in a report on Monday, April 15th. UBS Group reduced their price target on shares of AON from $333.00 to $308.00 and set a neutral rating on the stock in a report on Monday, February 5th. JPMorgan Chase & Co. increased their price target on AON from $318.00 to $353.00 and gave the company an overweight rating in a research note on Monday, April 8th. TD Cowen initiated coverage on shares of AON in a research note on Wednesday, January 10th. They issued an outperform rating and a $390.00 price objective for the company. Finally, Piper Sandler dropped their price target on AON from $326.00 to $312.00 and set a neutral rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $329.69.

AON Stock Performance

NYSE:AON opened at $281.07 on Monday. The stock has a 50-day simple moving average of $316.50 and a two-hundred day simple moving average of $313.67. AON has a 52-week low of $268.06 and a 52-week high of $347.37. The firm has a market capitalization of $55.80 billion, a PE ratio of 22.03, a P/E/G ratio of 1.72 and a beta of 0.86.

AON (NYSE:AON) last released its earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the prior year, the company posted $5.17 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that AON will post 15.82 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This is an increase from AON’s previous quarterly dividend of $0.62. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.96%. AON’s dividend payout ratio is presently 19.28%.

Insider Activity

In related news, insider Michael Neller sold 750 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $312.00, for a total transaction of $234,000.00. Following the transaction, the insider now directly owns 3,869 shares of the company’s stock, valued at approximately $1,207,128. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Lester B. Knight purchased 50,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was bought at an average price of $301.97 per share, with a total value of $15,098,500.00. Following the transaction, the director now owns 134,000 shares in the company, valued at approximately $40,463,980. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Neller sold 750 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $312.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now owns 3,869 shares of the company’s stock, valued at $1,207,128. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,532 shares of company stock worth $23,335,805. Insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On AON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AON. Integrated Advisors Network LLC increased its stake in shares of AON by 5.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 32 shares during the last quarter. Capital Planning Advisors LLC boosted its holdings in AON by 0.3% in the 3rd quarter. Capital Planning Advisors LLC now owns 11,793 shares of the financial services provider’s stock valued at $3,824,000 after purchasing an additional 35 shares during the last quarter. Valley Wealth Managers Inc. grew its stake in shares of AON by 4.9% in the 3rd quarter. Valley Wealth Managers Inc. now owns 777 shares of the financial services provider’s stock valued at $252,000 after buying an additional 36 shares during the period. Lincoln National Corp increased its holdings in shares of AON by 0.7% during the 3rd quarter. Lincoln National Corp now owns 5,446 shares of the financial services provider’s stock worth $1,766,000 after buying an additional 37 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its holdings in AON by 2.2% in the third quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 37 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

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.