AON (NYSE:AON) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of AON (NYSE:AON – Free Report) from a hold rating to a sell rating in a report published on Sunday,Wall Street Zen reports.

A number of other research firms have also recently issued reports on AON. UBS Group restated a “neutral” rating on shares of AON in a report on Monday, August 31st. Piper Sandler decreased their target price on AON from $391.00 to $349.00 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Morgan Stanley boosted their target price on shares of AON from $380.00 to $410.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. upped their price target on shares of AON from $396.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Roth Capital set a $380.00 price objective on shares of AON in a report on Tuesday, September 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, AON has a consensus rating of “Moderate Buy” and an average price target of $399.12.

View Our Latest Report on AON

AON Stock Performance

AON stock opened at $316.08 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $67.05 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.63 and a beta of 0.66. AON has a 1-year low of $304.59 and a 1-year high of $382.34. The company’s 50-day moving average is $353.17 and its 200 day moving average is $334.17.

AON (NYSE:AON – Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.01. AON had a return on equity of 42.13% and a net margin of 22.27%.The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the business earned $3.49 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts forecast that AON will post 18.99 EPS for the current year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. AON’s dividend payout ratio is presently 18.08%.

Insider Buying and Selling at AON

In related news, General Counsel Darren Zeidel sold 1,950 shares of AON stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $372.05, for a total value of $725,497.50. Following the completion of the sale, the general counsel directly owned 13,404 shares in the company, valued at $4,986,958.20. The trade was a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lester Knight acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was acquired at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the purchase, the director owned 163,000 shares of the company’s stock, valued at $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 4,450 shares of company stock worth $1,659,242. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On AON

Several institutional investors have recently bought and sold shares of the business. Wealth Watch Advisors INC bought a new position in AON in the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of AON in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new position in shares of AON in the 4th quarter worth $29,000. Strive Asset Management LLC purchased a new stake in shares of AON during the 3rd quarter worth $35,000. Finally, Cornerstone Financial Management LLC bought a new stake in AON during the fourth quarter valued at about $37,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Company Profile

(Get Free Report)

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.

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