AON (NYSE:AON) Downgraded to Underperform at Bank of America

Bank of America cut shares of AON (NYSE:AONFree Report) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $306.00 target price on the financial services provider’s stock, down from their previous target price of $345.00.

AON has been the subject of several other reports. Wells Fargo & Company decreased their price target on shares of AON from $300.00 to $289.00 and set an underweight rating for the company in a research report on Monday, April 29th. Royal Bank of Canada lowered their target price on AON from $325.00 to $315.00 and set a sector perform rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. upped their price target on AON from $318.00 to $353.00 and gave the company an overweight rating in a research report on Monday, April 8th. Piper Sandler lowered their price objective on AON from $326.00 to $312.00 and set a neutral rating for the company in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of AON from $294.00 to $312.00 and gave the company an underperform rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, AON presently has an average rating of Hold and an average target price of $325.43.

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AON Price Performance

AON stock opened at $280.75 on Wednesday. The stock has a market cap of $61.04 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.85 and a beta of 0.90. The company has a 50 day simple moving average of $305.00 and a 200 day simple moving average of $309.34. AON has a 1 year low of $268.06 and a 1 year high of $347.37.

AON (NYSE:AONGet Free Report) last posted its earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the business posted $5.17 earnings per share. AON’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that AON will post 15.48 EPS for the current fiscal year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.96%. This is a boost from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Tuesday, April 30th. AON’s dividend payout ratio (DPR) is presently 21.16%.

Insider Activity

In other news, Director Lester B. Knight bought 10,000 shares of AON stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now directly owns 139,000 shares in the company, valued at approximately $38,448,790. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.15% of the company’s stock.

Institutional Trading of AON

Several hedge funds have recently bought and sold shares of the business. BKM Wealth Management LLC acquired a new position in shares of AON during the fourth quarter valued at about $25,000. Milestone Investment Advisors LLC purchased a new stake in shares of AON in the third quarter worth approximately $30,000. Frazier Financial Advisors LLC bought a new position in shares of AON in the fourth quarter valued at approximately $31,000. Rise Advisors LLC purchased a new position in shares of AON during the first quarter valued at approximately $37,000. Finally, Headlands Technologies LLC purchased a new stake in AON in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

About AON

(Get Free Report)

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.

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Analyst Recommendations for AON (NYSE:AON)

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