AON (NYSE:AON) Given New $385.00 Price Target at Morgan Stanley

AON (NYSE:AON) had its target price lifted by Morgan Stanley from $365.00 to $385.00 in a research report sent to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group raised AON from a “neutral” rating to a “buy” rating and set a $408.00 price objective for the company in a report on Tuesday, May 13th. Cantor Fitzgerald raised AON to a “strong-buy” rating in a report on Wednesday, August 13th. Jefferies Financial Group raised AON from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $400.00 to $426.00 in a report on Wednesday, July 30th. Citigroup started coverage on AON in a report on Wednesday, August 13th. They issued a “neutral” rating and a $402.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their price objective on AON from $414.00 to $409.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AON currently has an average rating of “Moderate Buy” and an average target price of $409.18.

AON Trading Down 0.3%

Shares of AON stock opened at $365.96 on Monday. AON has a 1 year low of $323.73 and a 1 year high of $412.97. The firm has a market cap of $78.91 billion, a PE ratio of 30.65, a P/E/G ratio of 2.17 and a beta of 0.83. The stock has a fifty day moving average price of $357.64 and a 200-day moving average price of $370.56. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52.

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. AON had a return on equity of 50.91% and a net margin of 15.54%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the firm posted $2.93 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that AON will post 17.21 EPS for the current year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 1st. AON’s dividend payout ratio (DPR) is 24.96%.

Institutional Trading of AON

Large investors have recently modified their holdings of the business. Financial Gravity Asset Management Inc. bought a new stake in AON in the 1st quarter worth approximately $28,000. Saudi Central Bank purchased a new position in AON in the 1st quarter worth approximately $31,000. Atlantic Union Bankshares Corp purchased a new position in AON in the 2nd quarter worth approximately $31,000. Pinnacle Bancorp Inc. increased its stake in AON by 56.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 33 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new position in AON in the 2nd quarter worth approximately $32,000. Institutional investors own 86.14% of the company’s stock.

AON Company Profile

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.