AON (NYSE:AON) Price Target Cut to $433.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its price target for AON (NYSE:AON) from $436.00 to $433.00, while maintaining an "overweight" rating, indicating an expected upside of 18.46% from the stock's previous close.
• Other analysts have also shown confidence in AON, with Cantor Fitzgerald upgrading it to a "strong-buy" and Morgan Stanley increasing its price target from $385.00 to $430.00.
• AON recently reported earnings exceeding estimates with $3.49 EPS for the quarter, up from $2.93 in the same year-ago period, alongside a revenue growth of 10.5% year-over-year.

AON (NYSE:AON - Get Free Report) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $436.00 to $433.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 18.46% from the stock's previous close.

A number of other research firms also recently commented on AON. Cantor Fitzgerald upgraded AON to a "strong-buy" rating in a report on Wednesday, August 13th. Weiss Ratings restated a "buy (b-)" rating on shares of AON in a research report on Wednesday. Morgan Stanley raised AON from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $385.00 to $430.00 in a research note on Thursday, September 11th. Barclays reaffirmed an "overweight" rating and set a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. Finally, Evercore ISI boosted their price objective on AON from $421.00 to $427.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $417.19.

AON Stock Up 0.0%

AON traded up $0.13 on Thursday, reaching $365.51. The company's stock had a trading volume of 41,756 shares, compared to its average volume of 1,297,332. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. AON has a fifty-two week low of $323.73 and a fifty-two week high of $412.97. The stock has a 50 day moving average of $364.18 and a two-hundred day moving average of $363.48. The company has a market capitalization of $78.81 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 2.17 and a beta of 0.89.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.40 by $0.09. The business had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.93 earnings per share. As a group, analysts forecast that AON will post 17.21 EPS for the current fiscal year.

Hedge Funds Weigh In On AON

A number of hedge funds and other institutional investors have recently modified their holdings of AON. WCM Investment Management LLC grew its stake in shares of AON by 0.3% during the first quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider's stock valued at $809,544,000 after buying an additional 6,038 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of AON by 5.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider's stock worth $11,183,000 after buying an additional 1,489 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in shares of AON by 425.3% during the first quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider's stock worth $761,000 after purchasing an additional 1,544 shares during the period. Ninety One North America Inc. grew its position in shares of AON by 64.4% in the 1st quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider's stock worth $2,986,000 after buying an additional 2,932 shares during the last quarter. Finally, Peak Financial Advisors LLC purchased a new position in AON during the 2nd quarter valued at $2,464,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

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