AON (NYSE:AON) Stock Rating Lowered by Morgan Stanley

AON (NYSE:AONGet Rating) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Friday, The Fly reports.

AON has been the topic of a number of other reports. Zacks Investment Research raised shares of AON from a “hold” rating to a “buy” rating and set a $350.00 price target on the stock in a research note on Monday, April 11th. Wells Fargo & Company lowered their price objective on shares of AON from $321.00 to $310.00 in a research note on Monday, May 2nd. Finally, StockNews.com initiated coverage on shares of AON in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $310.90.

Shares of AON stock opened at $278.63 on Friday. The company has a market cap of $59.18 billion, a P/E ratio of 44.23 and a beta of 0.94. The company has a debt-to-equity ratio of 7.50, a quick ratio of 2.01 and a current ratio of 2.01. AON has a one year low of $223.19 and a one year high of $341.98. The firm has a fifty day moving average of $302.51 and a two-hundred day moving average of $294.89.

AON (NYSE:AONGet Rating) last announced its quarterly earnings data on Friday, April 29th. The financial services provider reported $4.83 EPS for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.03). AON had a return on equity of 119.46% and a net margin of 11.06%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company posted $4.28 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that AON will post 13.19 earnings per share for the current year.

AON announced that its Board of Directors has initiated a stock buyback plan on Friday, February 18th that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

In other AON news, Director Lester B. Knight purchased 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was purchased at an average cost of $286.58 per share, with a total value of $4,012,120.00. Following the transaction, the director now owns 109,000 shares in the company, valued at $31,237,220. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Darren Zeidel sold 82 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $308.31, for a total transaction of $25,281.42. The disclosure for this sale can be found here. 0.99% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of AON by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,242 shares of the financial services provider’s stock valued at $8,870,000 after purchasing an additional 1,817 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of AON by 20.1% in the 1st quarter. Ninety One UK Ltd now owns 44,217 shares of the financial services provider’s stock valued at $14,398,000 after purchasing an additional 7,407 shares in the last quarter. Midwest Wealth Management Inc. raised its stake in AON by 4.6% during the first quarter. Midwest Wealth Management Inc. now owns 5,585 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 248 shares during the period. EverSource Wealth Advisors LLC raised its stake in AON by 210.6% during the first quarter. EverSource Wealth Advisors LLC now owns 910 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 617 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in AON by 36.0% during the first quarter. EP Wealth Advisors LLC now owns 1,092 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 85.01% of the company’s stock.

About AON (Get Rating)

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captives management; and health solutions, such as health and benefits brokerages, and health care exchanges.

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