Aon plc (NYSE:AON – Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $304.55 and last traded at $304.8240, with a volume of 1650657 shares traded. The stock had previously closed at $315.79.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Wall Street Zen lowered shares of AON from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Keefe, Bruyette & Woods boosted their target price on AON from $412.00 to $417.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 1st. Evercore reaffirmed an “outperform” rating and set a $423.00 target price on shares of AON in a research report on Wednesday, September 2nd. Wells Fargo & Company cut their price objective on shares of AON from $419.00 to $383.00 and set an “overweight” rating on the stock in a report on Tuesday, September 1st. Finally, Morgan Stanley lifted their target price on shares of AON from $380.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $399.12.
Get Our Latest Stock Report on AON
AON Stock Performance
AON (NYSE:AON – Get Free Report) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.01. AON had a return on equity of 42.13% and a net margin of 22.27%.The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm earned $3.49 earnings per share. AON’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that Aon plc will post 18.94 EPS for the current fiscal year.
AON Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, August 3rd. AON’s dividend payout ratio is presently 18.08%.
Insider Transactions at AON
In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total value of $717,744.00. Following the sale, the general counsel owned 11,504 shares in the company, valued at approximately $4,345,751.04. This represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lester B. Knight acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were purchased at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the purchase, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 4,450 shares of company stock worth $1,659,242 in the last 90 days. Company insiders own 1.00% of the company’s stock.
Institutional Trading of AON
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Watch Advisors INC acquired a new position in shares of AON in the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of AON in the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. acquired a new position in AON in the 4th quarter worth about $29,000. Strive Asset Management LLC purchased a new position in AON during the third quarter worth approximately $35,000. Finally, Cornerstone Financial Management LLC acquired a new stake in AON in the fourth quarter valued at approximately $37,000. 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 helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.
Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.
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