AON (NYSE:AON) Price Target Raised to $385.00 at Morgan Stanley

Key Points

• Morgan Stanley raised AON's price target from $365.00 to $385.00, indicating a potential upside of 4.85% based on the stock's previous close.
• AON maintains a consensus rating of "Moderate Buy", with an average target price of $409.18, following several mixed recommendations from other analysts.
• The company reported earnings of $3.49 per share in its last quarter, exceeding estimates of $3.40, alongside a 10.5% year-over-year revenue growth.

AON (NYSE:AON - Get Free Report) had its target price hoisted by research analysts at Morgan Stanley from $365.00 to $385.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target points to a potential upside of 2.81% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods cut their price objective on shares of AON from $414.00 to $409.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Barclays restated an "overweight" rating and set a $420.00 price objective (up from $401.00) on shares of AON in a research report on Thursday, July 31st. The Goldman Sachs Group upgraded shares of AON from a "neutral" rating to a "buy" rating and set a $408.00 price objective for the company in a research report on Tuesday, May 13th. Piper Sandler raised their price objective on shares of AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Cantor Fitzgerald upgraded shares of AON to a "strong-buy" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $409.18.

AON Price Performance

Shares of NYSE AON traded down $0.8030 during mid-day trading on Monday, reaching $374.4670. The company's stock had a trading volume of 1,091,657 shares, compared to its average volume of 1,332,094. The stock has a 50-day moving average of $358.93 and a two-hundred day moving average of $370.60. The stock has a market capitalization of $80.75 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.22 and a beta of 0.83. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. AON has a 1-year low of $323.73 and a 1-year high of $412.97.

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

Institutional Investors Weigh In On AON

Several large investors have recently added to or reduced their stakes in AON. Financial Gravity Asset Management Inc. acquired a new position in shares of AON in the first quarter worth $28,000. Saudi Central Bank acquired a new position in shares of AON in the first quarter worth $31,000. Atlantic Union Bankshares Corp acquired a new position in shares of AON in the second quarter worth $31,000. Pinnacle Bancorp Inc. grew its stake in shares of AON by 56.9% in the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider's stock worth $32,000 after acquiring an additional 33 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of AON in the second quarter worth $32,000. 86.14% of the stock is 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.