AON (NYSE:AON) Price Target Raised to $412.00

AON (NYSE:AON) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $396.00 to $412.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.14% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Cantor Fitzgerald lifted their target price on AON from $416.00 to $445.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley increased their price target on AON from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods cut their price target on AON from $404.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. UBS Group upped their price objective on AON from $360.00 to $383.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Citigroup increased their target price on AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $403.19.

AON Stock Performance

Shares of NYSE:AON traded up $4.03 on Monday, reaching $360.97. 262,316 shares of the company’s stock were exchanged, compared to its average volume of 1,490,507. The business’s 50-day moving average is $327.08 and its two-hundred day moving average is $330.78. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. AON has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The firm has a market capitalization of $77.10 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.88 and a beta of 0.71.

AON (NYSE:AON) last posted its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating the consensus estimate of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the business posted $5.67 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that AON will post 19.09 EPS for the current year.

Insiders Place Their Bets

In other AON news, General Counsel Darren Zeidel sold 600 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the transaction, the general counsel directly owned 15,354 shares of the company’s stock, valued at approximately $5,527,440. This trade represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Trading of AON

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Watch Advisors INC purchased a new stake in AON during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of AON in the fourth quarter worth approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of AON during the fourth quarter valued at approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of AON in the 4th quarter valued at approximately $30,000. Finally, Strive Asset Management LLC purchased a new stake in shares of AON in the 3rd quarter valued at approximately $35,000. Institutional investors own 86.14% of the company’s stock.

About AON

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.