Wells Fargo & Company Lowers AON (NYSE:AON) Price Target to $289.00

AON (NYSE:AON) had its price objective dropped by analysts at Wells Fargo & Company from $300.00 to $289.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 2.48% from the company’s current price.

AON has been the topic of several other research reports. Bank of America decreased their price objective on AON from $378.00 to $345.00 and set a “neutral” rating on the stock in a report on Monday. Morgan Stanley boosted their price target on AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. TD Cowen started coverage on AON in a report on Wednesday, January 10th. They set an “outperform” rating and a $390.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on AON from $318.00 to $353.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada reduced their price target on AON from $325.00 to $315.00 and set a “sector perform” rating on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $329.69.

AON Stock Up 0.6 %

NYSE AON opened at $282.01 on Monday. The stock’s 50-day simple moving average is $315.83 and its two-hundred day simple moving average is $313.36. AON has a twelve month low of $268.06 and a twelve month high of $347.37. The company has a market capitalization of $55.98 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.72 and a beta of 0.86.

AON (NYSE:AON) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the business earned $5.17 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts expect that AON will post 15.82 earnings per share for the current fiscal year.

Insider Buying and Selling at AON

In other news, Director Lester B. Knight bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average price of $301.97 per share, with a total value of $15,098,500.00. Following the acquisition, the director now owns 134,000 shares of the company’s stock, valued at approximately $40,463,980. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Christa Davies sold 40,164 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $313.29, for a total value of $12,582,979.56. Following the completion of the transaction, the chief financial officer now owns 159,570 shares of the company’s stock, valued at approximately $49,991,685.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lester B. Knight purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was acquired at an average cost of $301.97 per share, with a total value of $15,098,500.00. Following the acquisition, the director now owns 134,000 shares in the company, valued at approximately $40,463,980. The disclosure for this purchase can be found here. In the last three months, insiders have sold 74,532 shares of company stock valued at $23,335,805. 1.15% of the stock is currently owned by corporate insiders.

Institutional Trading of AON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of AON by 2.2% during the third quarter. Commonwealth Equity Services LLC now owns 28,719 shares of the financial services provider’s stock valued at $9,311,000 after acquiring an additional 619 shares in the last quarter. Busey Trust CO raised its stake in shares of AON by 36.5% during the third quarter. Busey Trust CO now owns 4,682 shares of the financial services provider’s stock valued at $1,518,000 after acquiring an additional 1,252 shares in the last quarter. Toews Corp ADV bought a new stake in shares of AON during the third quarter valued at approximately $746,000. Kingswood Wealth Advisors LLC bought a new stake in shares of AON during the third quarter valued at approximately $1,746,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of AON by 57.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 69,891 shares of the financial services provider’s stock valued at $22,660,000 after acquiring an additional 25,595 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Company Profile

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.