Cantor Fitzgerald Cuts AON (NYSE:AON) Price Target to $400.00

Key Points

• Cantor Fitzgerald lowered AON’s price target to $400 from $433 while maintaining an “overweight” rating, implying 45.81% upside from the stock’s previous close.
• Analyst sentiment remains broadly positive, with 12 Buy, six Hold and one Sell rating; MarketBeat reports a “Moderate Buy” consensus and an average price target of $385.24.
• AON’s latest quarterly results slightly exceeded earnings expectations, with EPS of $3.81 versus $3.80 expected, while revenue rose 2.2% year over year to $4.25 billion.

AON (NYSE:AON - Get Free Report) had its target price decreased by research analysts at Cantor Fitzgerald from $433.00 to $400.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Cantor Fitzgerald's target price would indicate a potential upside of 45.81% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company cut their price target on shares of AON from $419.00 to $383.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 1st. Barclays lifted their price objective on shares of AON from $372.00 to $382.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Weiss Ratings lowered shares of AON from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 17th. Mizuho cut their price objective on AON from $398.00 to $366.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 16th. Finally, Piper Sandler lowered their target price on AON from $391.00 to $349.00 and set a "neutral" rating for the company in a research note on Tuesday, September 1st. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AON presently has an average rating of "Moderate Buy" and a consensus target price of $385.24.

AON Stock Up 0.8%

NYSE:AON opened at $274.33 on Wednesday. AON has a 52 week low of $266.33 and a 52 week high of $382.34. The stock's fifty day moving average is $324.30 and its two-hundred day moving average is $328.59. The stock has a market capitalization of $58.19 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.70. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34.

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, beating analysts' consensus estimates of $3.80 by $0.01. AON had a return on equity of 42.13% and a net margin of 22.27%.The business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.28 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The company's revenue was up 2.2% on a year-over-year basis. Research analysts anticipate that AON will post 18.81 EPS for the current year.

Insider Buying and Selling at AON

In related news, Director Lester B. Knight acquired 20,000 shares of the business's stock in a transaction dated 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 acquisition, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. The trade was a 13.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Darren Zeidel sold 1,900 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total value of $717,744.00. Following the sale, the general counsel directly owned 11,504 shares of the company's stock, valued at approximately $4,345,751.04. This trade represents a 14.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AON

Several institutional investors and hedge funds have recently modified their holdings of AON. Central Pacific Bank Trust Division boosted its stake in shares of AON by 3.3% in the third quarter. Central Pacific Bank Trust Division now owns 1,575 shares of the financial services provider's stock valued at $436,000 after purchasing an additional 50 shares during the period. QRG Capital Management Inc. boosted its holdings in AON by 10.9% in the second quarter. QRG Capital Management Inc. now owns 6,841 shares of the financial services provider's stock worth $2,269,000 after purchasing an additional 672 shares during the period. Andra AP fonden acquired a new stake in AON during the second quarter worth about $5,191,000. Sequoia Financial Advisors LLC boosted its stake in AON by 10.9% in the second quarter. Sequoia Financial Advisors LLC now owns 17,646 shares of the financial services provider's stock valued at $5,853,000 after acquiring an additional 1,739 shares during the period. Finally, National Pension Service lifted its position in AON by 2.0% in the 2nd quarter. National Pension Service now owns 484,892 shares of the financial services provider's stock valued at $160,834,000 after purchasing an additional 9,349 shares during the last quarter. Hedge funds and other 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, 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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