Citigroup Initiates Coverage on AON (NYSE:AON)

Equities researchers at Citigroup initiated coverage on shares of AON (NYSE:AON) in a report issued on Wednesday, FinViz reports. The firm set a “neutral” rating and a $309.00 price target on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 6.56% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $345.00 to $306.00 in a report on Wednesday. UBS Group decreased their target price on AON from $333.00 to $308.00 and set a “neutral” rating for the company in a research report on Monday, February 5th. Wells Fargo & Company cut their price target on shares of AON from $300.00 to $289.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada decreased their price objective on shares of AON from $325.00 to $315.00 and set a “sector perform” rating for the company in a report on Monday, April 29th. Finally, Piper Sandler reduced their target price on shares of AON from $326.00 to $312.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $325.43.

AON Trading Down 1.0 %

Shares of AON stock opened at $289.98 on Wednesday. The company has a market capitalization of $63.05 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The stock has a fifty day simple moving average of $307.30 and a 200 day simple moving average of $310.16. AON has a 12-month low of $268.06 and a 12-month high of $347.37.

AON (NYSE:AON) last announced its earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the company earned $5.17 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that AON will post 15.51 EPS for the current year.

Insiders Place Their Bets

In other AON news, Director Lester B. Knight bought 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now directly owns 139,000 shares of the company’s stock, valued at $38,448,790. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Lester B. Knight purchased 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the purchase, the director now directly owns 139,000 shares in the company, valued at $38,448,790. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lisa Stevens sold 13,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $315.26, for a total transaction of $4,098,380.00. Following the completion of the transaction, the insider now directly owns 10,073 shares in the company, valued at approximately $3,175,613.98. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On AON

Hedge funds have recently made changes to their positions in the business. BKM Wealth Management LLC bought a new stake in shares of AON in the 4th quarter valued at about $25,000. Milestone Investment Advisors LLC purchased a new stake in shares of AON during the third quarter valued at approximately $30,000. Frazier Financial Advisors LLC purchased a new position in shares of AON in the fourth quarter worth $31,000. Rise Advisors LLC purchased a new stake in AON during the 1st quarter valued at $37,000. Finally, Headlands Technologies LLC purchased a new position in shares of AON in the third quarter valued at about $39,000. 86.14% of the stock is currently owned by 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.