JPMorgan Chase & Co. Cuts AON (NYSE:AON) Price Target to $406.00

AON (NYSE:AON) had its price target decreased by JPMorgan Chase & Co. from $433.00 to $406.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

AON has been the subject of a number of other research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $436.00 price objective on shares of AON in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of AON in a research note on Monday, December 29th. Citigroup upgraded shares of AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective on the stock in a research report on Monday, November 3rd. Roth Capital restated a “buy” rating and set a $390.00 target price on shares of AON in a research report on Tuesday, November 4th. Finally, Barclays reaffirmed an “equal weight” rating and set a $379.00 target price (down from $420.00) on shares of AON in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $411.35.

AON Stock Performance

AON opened at $350.95 on Wednesday. The firm has a market cap of $75.43 billion, a P/E ratio of 28.12, a PEG ratio of 1.79 and a beta of 0.84. AON has a 1-year low of $323.73 and a 1-year high of $412.97. The company has a 50 day simple moving average of $349.43 and a two-hundred day simple moving average of $355.27. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.35 and a quick ratio of 1.35.

AON (NYSE:AON) last released its earnings results on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. AON had a net margin of 15.96% and a return on equity of 48.88%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the company earned $2.72 EPS. AON’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts forecast that AON will post 17.21 earnings per share for the current fiscal year.

Institutional Trading of AON

Large investors have recently made changes to their positions in the business. Silver Lake Advisory LLC acquired a new position in AON during the third quarter worth approximately $1,292,000. Peak Financial Advisors LLC acquired a new stake in shares of AON in the second quarter valued at approximately $2,464,000. Nordea Investment Management AB grew its position in shares of AON by 6.6% during the second quarter. Nordea Investment Management AB now owns 17,062 shares of the financial services provider’s stock worth $6,051,000 after acquiring an additional 1,061 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of AON by 27.7% in the 1st quarter. Focus Partners Wealth now owns 125,834 shares of the financial services provider’s stock valued at $50,219,000 after acquiring an additional 27,280 shares during the period. Finally, Arrowroot Family Office LLC purchased a new stake in AON in the 2nd quarter valued at $541,000. 86.14% of the stock is currently owned by institutional investors.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.