Aon plc (NYSE:AON – Get Rating)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $292.76, but opened at $280.17. AON shares last traded at $297.30, with a volume of 5,353 shares.
Wall Street Analysts Forecast Growth
AON has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on AON in a report on Tuesday, July 12th. They set a “neutral” rating and a $301.00 target price on the stock. Morgan Stanley downgraded 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 report on Friday, June 3rd. Jefferies Financial Group cut their price target on AON from $316.00 to $296.00 and set a “hold” rating on the stock in a report on Tuesday, July 12th. Finally, Wells Fargo & Company cut their price target on AON from $321.00 to $310.00 in a report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $302.64.
AON Stock Down 0.4 %
The stock has a market cap of $61.81 billion, a P/E ratio of 46.20 and a beta of 0.91. The firm has a 50 day simple moving average of $269.98 and a two-hundred day simple moving average of $287.38. 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 (NYSE:AON – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.06. AON had a return on equity of 119.46% and a net margin of 11.06%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the firm earned $2.29 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that Aon plc will post 13.16 earnings per share for the current year.
AON Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Monday, August 1st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, July 29th. AON’s payout ratio is 35.56%.
Insider Buying and Selling
In related news, Director Lester B. Knight bought 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were acquired at an average cost of $286.58 per share, for a total transaction of $4,012,120.00. Following the acquisition, the director now directly owns 109,000 shares of the company’s stock, valued at approximately $31,237,220. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.99% of the company’s stock.
Hedge Funds Weigh In On AON
A number of hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. grew its holdings in shares of AON by 88.7% during the fourth quarter. Brown Advisory Inc. now owns 10,151 shares of the financial services provider’s stock valued at $3,050,000 after buying an additional 4,771 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of AON during the fourth quarter valued at $8,792,000. Graypoint LLC grew its holdings in shares of AON by 18.1% during the fourth quarter. Graypoint LLC now owns 888 shares of the financial services provider’s stock valued at $267,000 after buying an additional 136 shares in the last quarter. Desjardins Global Asset Management Inc. purchased a new position in shares of AON during the fourth quarter valued at $2,986,000. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of AON by 31.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 9,576 shares of the financial services provider’s stock valued at $2,878,000 after buying an additional 2,265 shares in the last quarter. 85.01% of the stock is currently owned by institutional investors and hedge funds.
AON Company Profile
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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