Bank of America started coverage on shares of AON (NYSE:AON – Get Rating) in a report published on Monday, The Fly reports. The brokerage issued a neutral rating and a $294.00 target price on the financial services provider’s stock.
Other equities analysts have also issued reports about the stock. Morgan Stanley lowered shares of AON from an equal weight rating to an underweight rating and reduced their target price for the stock from $320.00 to $250.00 in a research report on Friday, June 3rd. The Goldman Sachs Group initiated coverage on shares of AON in a research report on Tuesday, July 12th. They set a neutral rating and a $301.00 target price on the stock. TheStreet lowered shares of AON from a b rating to a c+ rating in a research report on Friday, July 29th. Finally, Jefferies Financial Group cut their price objective on shares of AON from $316.00 to $296.00 and set a hold rating on the stock in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $302.82.
AON Stock Up 0.6 %
Shares of NYSE AON opened at $278.71 on Monday. The company has a debt-to-equity ratio of 12.27, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $58.79 billion, a P/E ratio of 39.99 and a beta of 0.90. AON has a 1 year low of $246.21 and a 1 year high of $341.98. The firm has a 50-day simple moving average of $285.26 and a two-hundred day simple moving average of $289.40.
AON Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, July 29th. AON’s dividend payout ratio is currently 32.14%.
Insiders Place Their Bets
In other news, Director Byron Spruell purchased 400 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were acquired at an average cost of $291.72 per share, with a total value of $116,688.00. Following the completion of the acquisition, the director now owns 2,743 shares of the company’s stock, valued at $800,187.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Darren Zeidel sold 111 shares of AON stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $290.00, for a total transaction of $32,190.00. Following the completion of the sale, the general counsel now directly owns 15,129 shares in the company, valued at $4,387,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Byron Spruell acquired 400 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were bought at an average price of $291.72 per share, with a total value of $116,688.00. Following the completion of the purchase, the director now directly owns 2,743 shares of the company’s stock, valued at approximately $800,187.96. The disclosure for this purchase can be found here. Corporate insiders own 1.06% of the company’s stock.
Institutional Investors Weigh In On AON
Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. lifted its position in AON by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,466,832 shares of the financial services provider’s stock valued at $440,870,000 after purchasing an additional 21,718 shares during the period. Clark Capital Management Group Inc. acquired a new position in AON during the fourth quarter valued at $272,000. Gotham Asset Management LLC lifted its position in AON by 109.4% during the fourth quarter. Gotham Asset Management LLC now owns 18,124 shares of the financial services provider’s stock valued at $5,447,000 after purchasing an additional 9,470 shares during the period. Rockefeller Capital Management L.P. lifted its position in AON by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,426 shares of the financial services provider’s stock valued at $4,636,000 after purchasing an additional 345 shares during the period. Finally, Atlanta Capital Management Co. L L C lifted its position in AON by 0.7% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 348,593 shares of the financial services provider’s stock valued at $104,773,000 after purchasing an additional 2,303 shares during the period. 86.51% of the stock is currently owned by institutional investors and hedge funds.
Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.
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