AON (NYSE:AON) Issues Quarterly Earnings Results

Key Points

• AON reported a quarterly earnings per share (EPS) of $3.49, exceeding analysts' expectations of $3.40, with a year-over-year revenue increase of 10.5% to $4.16 billion.
• The company announced a quarterly dividend of $0.745 per share, representing an annualized dividend yield of 0.80%.
• Barclays and Piper Sandler both adjusted their target prices on AON, with Barclays lowering to $401.00 and Piper upgrading but reducing to $378.00, while the stock has a consensus rating of "Hold" with an average price target of $403.00.

AON (NYSE:AON - Get Free Report) issued its earnings results on Friday. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.09, RTT News reports. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. AON had a return on equity of 52.71% and a net margin of 15.58%. The company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 EPS.

AON Stock Performance

NYSE AON traded up $16.10 during trading on Friday, reaching $372.71. The company's stock had a trading volume of 2,251,364 shares, compared to its average volume of 1,320,097. The firm has a 50 day moving average price of $358.28 and a 200 day moving average price of $370.64. AON has a 12 month low of $304.12 and a 12 month high of $412.97. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $80.48 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 2.13 and a beta of 0.84.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.745 per share. The ex-dividend date is Friday, August 1st. This represents a $2.98 annualized dividend and a dividend yield of 0.80%. AON's dividend payout ratio is presently 25.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AON. Barclays lowered their target price on AON from $415.00 to $401.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Piper Sandler upgraded AON from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $384.00 to $378.00 in a research report on Monday, April 28th. Jefferies Financial Group increased their price objective on AON from $396.00 to $416.00 and gave the company a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. upped their price target on shares of AON from $394.00 to $409.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $438.00 target price (up previously from $436.00) on shares of AON in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $403.00.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.