AON (NYSE:AON) Upgraded at Bank of America

Bank of America upgraded shares of AON (NYSE:AON) from a neutral rating to an outperform rating in a research note released on Friday morning,Benzinga reports. Bank of America currently has $397.00 price objective on the financial services provider’s stock, down from their previous price objective of $398.00.

Several other analysts also recently commented on the stock. Barclays upped their price objective on shares of AON from $379.00 to $381.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Cantor Fitzgerald upped their price target on shares of AON from $393.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Mizuho set a $398.00 price objective on AON in a research note on Tuesday, February 3rd. UBS Group restated a “neutral” rating and issued a $385.00 target price on shares of AON in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of AON in a research report on Monday, December 29th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $408.94.

AON Price Performance

NYSE AON opened at $335.11 on Friday. The company has a market cap of $71.80 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.77 and a beta of 0.82. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03. The stock’s fifty day moving average price is $339.27 and its 200 day moving average price is $349.06. AON has a 1 year low of $304.59 and a 1 year high of $412.97.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.75 by $0.10. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion. AON had a return on equity of 45.23% and a net margin of 21.51%.The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.42 EPS. As a group, equities research analysts forecast that AON will post 17.21 earnings per share for the current year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, February 2nd. AON’s dividend payout ratio is presently 17.51%.

Insiders Place Their Bets

In related news, General Counsel Darren Zeidel sold 5,040 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total value of $1,641,981.60. Following the completion of the sale, the general counsel owned 20,254 shares of the company’s stock, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lester B. Knight acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were bought at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the acquisition, the director owned 143,000 shares of the company’s stock, valued at approximately $45,651,320. This represents a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AON

A number of hedge funds have recently made changes to their positions in AON. Westside Investment Management Inc. increased its position in shares of AON by 100.0% during the third quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in AON during the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of AON in the fourth quarter valued at about $27,000. Heartwood Wealth Advisors LLC purchased a new position in shares of AON in the third quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in AON during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.