AON (NYSE:AON – Free Report) had its target price upped by Keefe, Bruyette & Woods from $400.00 to $412.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.
AON has been the topic of several other research reports. Citigroup boosted their target price on AON from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a research report on Friday, July 17th. Cantor Fitzgerald lifted their price target on AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Wells Fargo & Company lifted their price target on shares of AON from $406.00 to $419.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Mizuho upped their price target on shares of AON from $426.00 to $437.00 and gave the stock an “outperform” rating in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, AON has an average rating of “Moderate Buy” and a consensus price target of $410.75.
AON Trading Up 0.1%
AON (NYSE:AON – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.01. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. AON had a net margin of 22.27% and a return on equity of 42.13%. During the same quarter last year, the business posted $3.49 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that AON will post 19.06 EPS for the current year.
AON Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 3rd. AON’s dividend payout ratio (DPR) is currently 18.08%.
Insiders Place Their Bets
In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total transaction of $717,744.00. Following the completion of the sale, the general counsel directly owned 11,504 shares in the company, valued at approximately $4,345,751.04. This trade represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 4,450 shares of company stock worth $1,659,242. Company insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of AON. City National Bank of Florida MSD increased its stake in shares of AON by 3.8% in the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 32 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in AON by 39.3% in the fourth quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 33 shares during the period. Mattern Capital Management LLC increased its stake in shares of AON by 0.8% during the fourth quarter. Mattern Capital Management LLC now owns 3,974 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 33 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of AON by 5.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 33 shares during the last quarter. Finally, Seascape Capital Management boosted its position in shares of AON by 0.3% in the 4th quarter. Seascape Capital Management now owns 11,030 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.
About AON
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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