Piper Sandler Cuts AON (NYSE:AON) Price Target to $312.00

AON (NYSE:AON) had its price objective reduced by Piper Sandler from $326.00 to $312.00 in a research note released on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Several other brokerages have also issued reports on AON. UBS Group decreased their price target on AON from $333.00 to $308.00 and set a neutral rating on the stock in a research note on Monday, February 5th. Royal Bank of Canada cut their price objective on AON from $342.00 to $325.00 and set a sector perform rating on the stock in a report on Monday, February 5th. JPMorgan Chase & Co. raised their price objective on AON from $318.00 to $353.00 and gave the company an overweight rating in a report on Monday, April 8th. Keefe, Bruyette & Woods raised their price objective on AON from $294.00 to $312.00 and gave the company an underperform rating in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group cut their price objective on AON from $350.00 to $310.00 and set a neutral rating on the stock in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $329.69.

AON Trading Up 0.5 %

NYSE:AON opened at $283.55 on Monday. The stock has a market cap of $61.65 billion, a P/E ratio of 22.22, a PEG ratio of 1.72 and a beta of 0.86. The stock has a 50 day simple moving average of $315.28 and a 200 day simple moving average of $313.15. AON has a 1-year low of $268.06 and a 1-year high of $347.37.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the business earned $5.17 EPS. AON’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that AON will post 15.64 EPS for the current year.

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from AON’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, April 30th. AON’s payout ratio is currently 19.28%.

Insider Activity

In other news, CFO Christa Davies sold 20,618 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the transaction, the chief financial officer now directly owns 159,570 shares of the company’s stock, valued at approximately $49,690,098. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Christa Davies sold 20,618 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the completion of the sale, the chief financial officer now directly owns 159,570 shares of the company’s stock, valued at approximately $49,690,098. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Neller sold 750 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $312.00, for a total value of $234,000.00. Following the completion of the sale, the insider now directly owns 3,869 shares of the company’s stock, valued at $1,207,128. The disclosure for this sale can be found here. Insiders have sold 74,532 shares of company stock valued at $23,335,805 in the last ninety days. 1.15% of the stock is owned by company insiders.

Institutional Trading of AON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in AON during the 4th quarter worth approximately $25,000. Milestone Investment Advisors LLC bought a new stake in AON during the 3rd quarter worth approximately $30,000. Frazier Financial Advisors LLC bought a new stake in AON during the 4th quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in AON during the 1st quarter worth approximately $37,000. Finally, Headlands Technologies LLC bought a new stake in AON during the 3rd quarter worth approximately $39,000. 86.14% of the stock is owned by institutional investors.

About AON

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.