AON (NYSE:AON) Reaches New 52-Week High – Still a Buy?

Aon plc (NYSE:AON) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $379.56 and last traded at $378.8870, with a volume of 198671 shares traded. The stock had previously closed at $367.17.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on AON from $396.00 to $412.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. UBS Group increased their price objective on AON from $360.00 to $383.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Cantor Fitzgerald boosted their target price on AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wells Fargo & Company decreased their price target on shares of AON from $409.00 to $406.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of AON from $404.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, AON has a consensus rating of “Moderate Buy” and a consensus price target of $404.56.

AON Trading Up 3.4%

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a 50-day moving average of $337.38 and a 200-day moving average of $331.37. The firm has a market capitalization of $81.07 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71.

AON (NYSE:AON) last released its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the firm posted $5.67 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Aon plc will post 19.09 EPS for the current fiscal year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio (DPR) is presently 18.00%.

Insider Buying and Selling at AON

In related news, General Counsel Darren Zeidel sold 1,950 shares of the stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $372.05, for a total value of $725,497.50. Following the completion of the transaction, the general counsel directly owned 13,404 shares of the company’s stock, valued at $4,986,958.20. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On AON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aviva PLC increased its position in AON by 2.0% during the 4th quarter. Aviva PLC now owns 333,454 shares of the financial services provider’s stock valued at $117,669,000 after buying an additional 6,622 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of AON by 21.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,552 shares of the financial services provider’s stock worth $13,251,000 after purchasing an additional 6,509 shares during the period. Handelsbanken Fonder AB grew its position in AON by 9.1% during the fourth quarter. Handelsbanken Fonder AB now owns 67,034 shares of the financial services provider’s stock valued at $23,655,000 after buying an additional 5,585 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in AON by 1,864.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 343,754 shares of the financial services provider’s stock worth $121,304,000 after acquiring an additional 326,256 shares during the period. Finally, Highland Capital Management LLC purchased a new position in shares of AON during the 4th quarter worth $1,359,000. 86.14% of the stock is owned by hedge funds and other 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.