AON (NYSE:AON) Price Target Raised to $420.00 at TD Cowen

Key Points

• TD Cowen raised AON’s price target from $416 to $420 and maintained a “buy” rating, implying 36.81% upside from the previous close.
• Analyst sentiment remains generally positive, with 12 buy ratings, six holds and one sell rating; the consensus rating is “Moderate Buy” with a $399.35 target price.
• AON reported quarterly EPS of $3.81, slightly ahead of estimates, while revenue reached $4.25 billion and increased 2.2% year over year.

AON (NYSE:AON - Get Free Report) had its target price boosted by stock analysts at TD Cowen from $416.00 to $420.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. TD Cowen's target price points to a potential upside of 36.81% from the stock's previous close.

Several other brokerages also recently weighed in on AON. UBS Group reaffirmed a "neutral" rating on shares of AON in a report on Monday, August 31st. Keefe, Bruyette & Woods upped their price objective on AON from $412.00 to $417.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 1st. Piper Sandler decreased their target price on AON from $391.00 to $349.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price target on AON from $396.00 to $412.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of AON in a report on Tuesday, September 1st. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $399.35.

AON Stock Performance

Shares of AON traded up $4.32 during mid-day trading on Monday, hitting $307.00. 490,715 shares of the company traded hands, compared to its average volume of 1,449,597. The stock has a market cap of $65.12 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.53 and a beta of 0.66. The stock has a 50-day moving average price of $350.34 and a two-hundred day moving average price of $333.82. AON has a 1 year low of $302.44 and a 1 year high of $382.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54.

AON (NYSE:AON - Get Free Report) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.01. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. AON had a net margin of 22.27% and a return on equity of 42.13%. The firm's revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.49 EPS. Equities analysts anticipate that AON will post 18.94 earnings per share for the current year.

Insider Transactions at AON

In related news, Director Lester B. Knight acquired 20,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the transaction, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. This trade represents a 13.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Darren Zeidel sold 1,950 shares of AON stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $372.05, for a total value of $725,497.50. Following the completion of the transaction, the general counsel owned 13,404 shares of the company's stock, valued at approximately $4,986,958.20. This trade represents a 12.70% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,450 shares of company stock valued at $1,659,242. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in shares of AON during the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in AON in the 4th quarter worth about $27,000. Kemnay Advisory Services Inc. bought a new stake in AON in the fourth quarter worth about $29,000. Strive Asset Management LLC purchased a new position in shares of AON during the third quarter valued at approximately $35,000. Finally, Cornerstone Financial Management LLC purchased a new position in shares of AON during the fourth quarter valued at approximately $37,000. Institutional investors own 86.14% of the company's stock.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, support workforce strategies and make informed decisions. Its principal activities include commercial risk brokerage, insurance and reinsurance consulting, retirement and investment advisory services, health and benefits consulting, and data- and analytics-based business solutions.

Aon serves businesses, governments, institutional investors and individuals across a broad range of industries and geographies.

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