AON (NYSE:AON) Given New $412.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on AON from $396 to $412 and kept an overweight rating, implying about 14.1% upside from the current share price.
• Several other analysts also adjusted their views, with target prices ranging from $382 to $426; overall, AON has a Moderate Buy consensus and an average price target of $403.19.
• AON shares were trading up about 1.1% at $360.97, while the company’s latest earnings beat expectations with EPS of $6.48 and revenue of $5.03 billion, both above analyst estimates.

AON (NYSE:AON - Get Free Report) had its target price upped by analysts at JPMorgan Chase & Co. from $396.00 to $412.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 14.14% from the stock's current price.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their target price on AON from $404.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Barclays increased their price objective on shares of AON from $372.00 to $382.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. UBS Group boosted their target price on shares of AON from $360.00 to $383.00 and gave the company a "neutral" rating in a report on Wednesday. Morgan Stanley upped their price target on shares of AON from $370.00 to $380.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Finally, Mizuho increased their price target on shares of AON from $389.00 to $426.00 and gave the stock an "outperform" rating in a research note on Thursday. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $403.19.

AON Trading Up 1.1%

NYSE AON traded up $4.03 during mid-day trading on Monday, reaching $360.97. 262,316 shares of the stock were exchanged, compared to its average volume of 1,490,507. The business's fifty day simple moving average is $327.08 and its 200 day simple moving average is $330.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $77.10 billion, a PE ratio of 19.83, a PEG ratio of 1.88 and a beta of 0.71. AON has a 1-year low of $304.59 and a 1-year high of $381.00.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts' consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.67 EPS. On average, research analysts anticipate that AON will post 19.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Darren Zeidel sold 600 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the sale, the general counsel directly owned 15,354 shares in the company, valued at $5,527,440. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AON. Handelsbanken Fonder AB lifted its position in shares of AON by 1.9% during the second quarter. Handelsbanken Fonder AB now owns 68,206 shares of the financial services provider's stock worth $22,623,000 after purchasing an additional 1,293 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in AON in the second quarter valued at about $384,000. Legacy Wealth Asset Management LLC increased its holdings in AON by 0.7% in the second quarter. Legacy Wealth Asset Management LLC now owns 7,524 shares of the financial services provider's stock valued at $2,496,000 after buying an additional 54 shares during the last quarter. HF Advisory Group LLC raised its stake in AON by 392.3% during the second quarter. HF Advisory Group LLC now owns 3,638 shares of the financial services provider's stock valued at $1,207,000 after buying an additional 2,899 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in AON by 25.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,151 shares of the financial services provider's stock worth $382,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

About AON

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

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