AON (NYSE:AON) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI has raised AON's target price from $411.00 to $421.00, suggesting a potential upside of 12.96% from its previous close.
• AON's recent earnings report showed a quarterly EPS of $3.49, exceeding analysts' expectations, and a 10.5% year-over-year revenue increase.
• Institutional investors hold approximately 86.14% of AON's stock, with significant increases in holdings from major funds like Polen Capital Management and GAMMA Investing.

AON (NYSE:AON - Get Free Report) had its target price raised by equities research analysts at Evercore ISI from $411.00 to $421.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Evercore ISI's target price points to a potential upside of 12.96% from the stock's previous close.

Several other brokerages also recently weighed in on AON. Wells Fargo & Company reiterated an "overweight" rating and issued a $438.00 price target (up from $436.00) on shares of AON in a report on Thursday, July 10th. Jefferies Financial Group boosted their price target on AON from $396.00 to $416.00 and gave the company a "hold" rating in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on AON from $394.00 to $409.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Piper Sandler upgraded AON from a "neutral" rating to an "overweight" rating and cut their price target for the company from $384.00 to $378.00 in a report on Monday, April 28th. Finally, The Goldman Sachs Group upgraded AON from a "neutral" rating to a "buy" rating and set a $408.00 price objective for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $404.64.

AON Price Performance

Shares of NYSE:AON opened at $372.71 on Monday. AON has a 12 month low of $304.12 and a 12 month high of $412.97. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.73. The business's 50 day simple moving average is $358.28 and its 200-day simple moving average is $370.90. The firm has a market capitalization of $80.48 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

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

Hedge Funds Weigh In On AON

A number of large investors have recently bought and sold shares of AON. Polen Capital Management LLC lifted its holdings in AON by 318.1% in the first quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider's stock worth $1,200,350,000 after acquiring an additional 2,288,397 shares during the last quarter. Nuveen LLC bought a new position in AON in the first quarter worth about $505,108,000. Wellington Management Group LLP bought a new position in AON in the first quarter worth about $490,634,000. GAMMA Investing LLC lifted its holdings in AON by 56,460.0% in the first quarter. GAMMA Investing LLC now owns 761,863 shares of the financial services provider's stock worth $304,052,000 after acquiring an additional 760,516 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in AON by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,949,919 shares of the financial services provider's stock worth $1,773,165,000 after acquiring an additional 627,742 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

AON Company Profile

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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