AON (NYSE:AON) Price Target Cut to $419.00 by Analysts at TD Cowen

AON (NYSE:AON) had its target price cut by TD Cowen from $427.00 to $419.00 in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the financial services provider’s stock.

AON has been the topic of a number of other reports. Evercore ISI upped their price target on shares of AON from $411.00 to $421.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Jefferies Financial Group upgraded shares of AON from a “hold” rating to a “buy” rating and upped their price target for the company from $400.00 to $426.00 in a research note on Wednesday, July 30th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $438.00 target price (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. Wolfe Research assumed coverage on shares of AON in a report on Monday. They set a “peer perform” rating on the stock. Finally, Citigroup assumed coverage on shares of AON in a report on Wednesday, August 13th. They set a “neutral” rating and a $402.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AON has a consensus rating of “Moderate Buy” and a consensus price target of $414.69.

AON Stock Performance

Shares of AON stock opened at $358.07 on Wednesday. The stock has a market capitalization of $77.21 billion, a P/E ratio of 29.99, a PEG ratio of 2.11 and a beta of 0.87. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The firm’s 50 day moving average is $364.16 and its 200 day moving average is $367.63. AON has a 12 month low of $323.73 and a 12 month high of $412.97.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. AON’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.93 EPS. On average, sell-side analysts anticipate that AON will post 17.21 earnings per share for the current year.

AON Dividend Announcement

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

Institutional Investors Weigh In On AON

Several institutional investors and hedge funds have recently modified their holdings of AON. Polen Capital Management LLC lifted its position in shares of AON by 318.1% in the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock worth $1,200,350,000 after purchasing an additional 2,288,397 shares during the period. Norges Bank purchased a new stake in shares of AON in the 2nd quarter worth about $754,671,000. Nuveen LLC purchased a new stake in shares of AON in the 1st quarter worth about $505,108,000. Wellington Management Group LLP purchased a new stake in shares of AON in the 1st quarter worth about $490,634,000. Finally, GAMMA Investing LLC lifted its position in shares of AON by 56,460.0% in the 1st quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider’s stock worth $304,052,000 after purchasing an additional 760,516 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.