Cantor Fitzgerald Upgrades AON (NYSE:AON) to “Strong-Buy”

AON (NYSE:AON) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

AON has been the subject of several other reports. Jefferies Financial Group upgraded shares of AON from a “hold” rating to a “buy” rating and boosted their target price for the company from $400.00 to $426.00 in a research report on Wednesday, July 30th. Citigroup began coverage on shares of AON in a research report on Wednesday. They set a “neutral” rating and a $402.00 target price for the company. Keefe, Bruyette & Woods cut their target price on shares of AON from $414.00 to $409.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Barclays restated an “overweight” rating and set a $420.00 target price (up from $401.00) on shares of AON in a research report on Thursday, July 31st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $438.00 price target (up from $436.00) on shares of AON in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AON presently has a consensus rating of “Moderate Buy” and an average price target of $410.69.

AON Stock Performance

Shares of AON stock opened at $366.72 on Wednesday. The company has a 50 day moving average price of $357.48 and a 200-day moving average price of $370.61. AON has a 52 week low of $323.73 and a 52 week high of $412.97. The firm has a market capitalization of $79.08 billion, a PE ratio of 30.71, a P/E/G ratio of 2.20 and a beta of 0.83. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93.

AON (NYSE:AON) last announced its earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.09. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.93 earnings per share. As a group, equities research analysts expect that AON will post 17.21 earnings per share for the current year.

Hedge Funds Weigh In On AON

Institutional investors have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. purchased a new position in AON during the first quarter valued at $28,000. Saudi Central Bank purchased a new position in AON during the first quarter valued at $31,000. HHM Wealth Advisors LLC grew its stake in AON by 54.7% during the first quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 29 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in AON during the second quarter valued at $31,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in AON during the second quarter valued at $32,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.