AON (NYSE:AON) PT Lowered to $289.00 at Wells Fargo & Company

AON (NYSE:AON) had its target price trimmed by Wells Fargo & Company from $300.00 to $289.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Bank of America decreased their price target on AON from $378.00 to $345.00 and set a neutral rating for the company in a research note on Monday. Piper Sandler dropped their price target on shares of AON from $326.00 to $312.00 and set a neutral rating on the stock in a research report on Monday. Morgan Stanley boosted their price objective on shares of AON from $325.00 to $327.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods raised their target price on shares of AON from $294.00 to $312.00 and gave the company an underperform rating in a research note on Wednesday, April 10th. Finally, UBS Group dropped their price objective on AON from $333.00 to $308.00 and set a neutral rating on the stock in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, AON has a consensus rating of Hold and an average price target of $329.69.

AON Stock Down 1.4 %

NYSE AON opened at $281.07 on Monday. AON has a 12-month low of $268.06 and a 12-month high of $347.37. The firm’s 50 day moving average is $316.50 and its 200-day moving average is $313.67. The company has a market capitalization of $55.80 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.72 and a beta of 0.86.

AON (NYSE:AON) last issued its quarterly earnings results 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). The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.14 billion. AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $5.17 earnings per share. As a group, sell-side analysts expect that AON will post 15.82 EPS for the current year.

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.675 dividend. This is a boost from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $2.70 annualized dividend and a yield of 0.96%. AON’s payout ratio is 19.28%.

Insider Activity

In related news, insider Michael Neller sold 750 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $312.00, for a total transaction of $234,000.00. Following the sale, the insider now owns 3,869 shares of the company’s stock, valued at $1,207,128. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Lester B. Knight acquired 50,000 shares of AON stock in a transaction on Wednesday, February 7th. The shares were purchased at an average cost of $301.97 per share, for a total transaction of $15,098,500.00. Following the completion of the purchase, the director now directly owns 134,000 shares of the company’s stock, valued at approximately $40,463,980. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Neller sold 750 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $312.00, for a total transaction of $234,000.00. Following the completion of the transaction, the insider now directly owns 3,869 shares in the company, valued at $1,207,128. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,532 shares of company stock worth $23,335,805. Corporate insiders own 1.15% of the company’s stock.

Institutional Trading of AON

Several large investors have recently made changes to their positions in AON. BKM Wealth Management LLC bought a new stake in AON during the fourth quarter worth $25,000. Milestone Investment Advisors LLC bought a new stake in shares of AON during the 3rd quarter worth $30,000. Frazier Financial Advisors LLC acquired a new stake in AON in the fourth quarter valued at about $31,000. Rise Advisors LLC bought a new position in AON in the first quarter valued at about $37,000. Finally, Headlands Technologies LLC bought a new position in shares of AON in the third quarter worth about $39,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.