AON (NYSE:AON) Given New $287.00 Price Target at Wells Fargo & Company

AON (NYSE:AON) had its price target lowered by Wells Fargo & Company from $289.00 to $287.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on AON. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $311.00 price objective on shares of AON in a research report on Tuesday, May 28th. Morgan Stanley boosted their price target on AON from $325.00 to $327.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Citigroup began coverage on AON in a research report on Wednesday, May 22nd. They issued a neutral rating and a $309.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target on AON from $294.00 to $312.00 and gave the stock an underperform rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of AON from $318.00 to $353.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $321.71.

AON Stock Performance

AON stock opened at $295.53 on Tuesday. The stock’s 50 day simple moving average is $289.28 and its two-hundred day simple moving average is $302.19. The stock has a market cap of $64.26 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.94 and a beta of 0.91. AON has a fifty-two week low of $268.06 and a fifty-two week high of $344.68.

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

AON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Tuesday, April 30th. This is an increase from AON’s previous quarterly dividend of $0.62. AON’s dividend payout ratio (DPR) is presently 21.16%.

Insider Activity

In related news, Director Lester B. Knight purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the acquisition, the director now directly owns 139,000 shares in the company, valued at approximately $38,448,790. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.15% of the company’s stock.

Hedge Funds Weigh In On AON

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BKM Wealth Management LLC purchased a new stake in AON during the fourth quarter valued at approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of AON in the 4th quarter worth $31,000. Rise Advisors LLC purchased a new position in AON during the first quarter valued at $37,000. Bruce G. Allen Investments LLC bought a new stake in AON during the fourth quarter valued at about $40,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in AON in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About AON

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.