AON (NYSE:AON) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered AON’s price target from $412 to $362 while maintaining an “overweight” rating, implying approximately 31% upside from the prior close.
• Analyst sentiment remains broadly positive: AON has a consensus “Moderate Buy” rating and an average target price of $394.53, despite several firms recently cutting their targets.
• AON’s shares traded at $275.79, near their 52-week low, while the company’s latest quarterly results slightly beat earnings expectations but fell short on revenue.

AON (NYSE:AON - Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $412.00 to $362.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 31.26% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. Mizuho lowered their target price on AON from $398.00 to $366.00 and set an "outperform" rating for the company in a report on Wednesday, September 16th. Wall Street Zen lowered shares of AON from a "hold" rating to a "sell" rating in a report on Sunday, September 6th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of AON in a research note on Tuesday, September 1st. Citigroup assumed coverage on AON in a research report on Monday, September 21st. They set a "buy" rating and a $435.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on AON from $419.00 to $383.00 and set an "overweight" rating on the stock in a report on Tuesday, September 1st. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AON currently has a consensus rating of "Moderate Buy" and a consensus target price of $394.53.

AON Price Performance

NYSE AON traded down $0.98 during trading on Thursday, hitting $275.79. 384,133 shares of the company's stock were exchanged, compared to its average volume of 1,514,947. The stock's 50 day moving average price is $331.75 and its two-hundred day moving average price is $329.96. AON has a fifty-two week low of $269.02 and a fifty-two week high of $382.34. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34. The company has a market cap of $58.50 billion, a PE ratio of 15.22, a P/E/G ratio of 1.40 and a beta of 0.66.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, topping analysts' consensus estimates of $3.80 by $0.01. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%.AON's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 EPS. Research analysts expect that AON will post 18.88 EPS for the current year.

Insider Activity at AON

In other news, General Counsel Darren Zeidel sold 1,900 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total value of $717,744.00. Following the completion of the transaction, the general counsel directly owned 11,504 shares in the company, valued at approximately $4,345,751.04. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lester B. Knight purchased 20,000 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the acquisition, the director owned 163,000 shares in the company, valued at approximately $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 4,450 shares of company stock worth $1,659,242. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in shares of AON by 1.5% in the 4th quarter. Capital World Investors now owns 12,252,904 shares of the financial services provider's stock valued at $4,323,850,000 after acquiring an additional 176,207 shares during the last quarter. Independent Franchise Partners LLP grew its position in AON by 0.9% during the 4th quarter. Independent Franchise Partners LLP now owns 2,115,523 shares of the financial services provider's stock worth $746,526,000 after acquiring an additional 19,037 shares during the last quarter. Bank of America Corp DE increased its stake in AON by 16.3% in the 1st quarter. Bank of America Corp DE now owns 1,582,680 shares of the financial services provider's stock worth $510,857,000 after purchasing an additional 222,092 shares during the period. Amundi boosted its stake in shares of AON by 23.5% during the first quarter. Amundi now owns 1,502,890 shares of the financial services provider's stock valued at $485,103,000 after purchasing an additional 285,549 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of AON by 7.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,409,274 shares of the financial services provider's stock worth $497,305,000 after purchasing an additional 97,580 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, make better decisions and improve performance. Its services are organized around risk capital and human capital, combining advisory expertise, data, analytics and insurance-related solutions.

The company provides commercial risk brokerage and consulting, reinsurance brokerage, retirement and investment advisory services, health benefits consulting, talent and compensation consulting, and related technology and data products.

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