Aon PLC’s (AON) “Buy” Rating Reaffirmed at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their buy rating on shares of Aon PLC (NYSE:AON) in a research report released on Monday. The brokerage currently has a $154.00 price target on the financial services provider’s stock.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Aon PLC from a strong-buy rating to a buy rating in a research report on Saturday, June 24th. Jefferies Group LLC restated a buy rating and issued a $162.00 target price (up previously from $146.00) on shares of Aon PLC in a research report on Monday, July 24th. Citigroup Inc. lifted their target price on Aon PLC from $144.00 to $155.00 and gave the company a buy rating in a research report on Thursday, July 13th. ValuEngine upgraded Aon PLC from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, Morgan Stanley restated an equal weight rating and issued a $138.00 target price (up previously from $130.00) on shares of Aon PLC in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $141.10.
Aon PLC (NYSE:AON) opened at 149.75 on Monday. The company has a market cap of $38.09 billion, a P/E ratio of 21.87 and a beta of 1.04. Aon PLC has a 12 month low of $107.19 and a 12 month high of $150.15. The firm has a 50-day moving average price of $144.14 and a 200 day moving average price of $133.84.
Aon PLC (NYSE:AON) last posted its earnings results on Friday, August 4th. The financial services provider reported $1.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.45. Aon PLC had a return on equity of 32.62% and a net margin of 17.28%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict that Aon PLC will post $6.50 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.96%. Aon PLC’s payout ratio is presently 20.48%.
In other news, CEO Michael J. O’connor sold 10,000 shares of Aon PLC stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $145.00, for a total value of $1,450,000.00. Following the completion of the sale, the chief executive officer now directly owns 123,805 shares of the company’s stock, valued at $17,951,725. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in Aon PLC by 16.7% during the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 106 shares in the last quarter. Fiduciary Trust Co. acquired a new position in Aon PLC during the 2nd quarter worth $108,000. Pathstone Family Office LLC grew its stake in Aon PLC by 6,775.0% during the 2nd quarter. Pathstone Family Office LLC now owns 825 shares of the financial services provider’s stock worth $1,703,000 after purchasing an additional 813 shares in the last quarter. Magellan Asset Management Ltd grew its stake in Aon PLC by 110.2% during the 2nd quarter. Magellan Asset Management Ltd now owns 847 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 444 shares in the last quarter. Finally, FNY Partners Fund LP acquired a new position in Aon PLC during the 1st quarter worth $106,000. 84.01% of the stock is owned by hedge funds and other institutional investors.
About Aon PLC
Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.
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