AON (NYSE:AON) Cut to Underperform at Bank of America

AON (NYSE:AON) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Wednesday, MarketBeat.com reports. They presently have a $306.00 target price on the financial services provider’s stock, down from their prior target price of $345.00. Bank of America‘s price objective points to a potential upside of 9.56% from the company’s previous close.

AON has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their price target on shares of AON from $300.00 to $289.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. upped their target price on shares of AON from $318.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Royal Bank of Canada lowered their price objective on AON from $325.00 to $315.00 and set a “sector perform” rating for the company in a research note on Monday, April 29th. Finally, Morgan Stanley increased their price target on AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $325.43.

AON Stock Down 1.9 %

Shares of AON stock opened at $279.30 on Wednesday. The company has a 50 day moving average price of $305.77 and a 200-day moving average price of $309.77. The firm has a market capitalization of $60.73 billion, a PE ratio of 21.89, a P/E/G ratio of 1.84 and a beta of 0.90. AON has a 52 week low of $268.06 and a 52 week high of $347.37.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 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 company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the business earned $5.17 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that AON will post 15.51 earnings per share for the current year.

Insider Activity

In other AON news, Director Lester B. Knight purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now directly owns 139,000 shares in the company, valued at $38,448,790. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.15% of the company’s stock.

Institutional Trading of AON

A number of institutional investors have recently made changes to their positions in AON. BKM Wealth Management LLC acquired a new stake in shares of AON during the 4th quarter worth about $25,000. Milestone Investment Advisors LLC purchased a new stake in AON during the 3rd quarter worth approximately $30,000. Frazier Financial Advisors LLC purchased a new position in AON in the 4th quarter valued at approximately $31,000. Rise Advisors LLC acquired a new position in shares of AON in the first quarter worth $37,000. Finally, Headlands Technologies LLC acquired a new position in shares of AON in the third quarter worth $39,000. 86.14% of the stock is owned by institutional investors and hedge funds.

About AON

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.