Mizuho Lowers AON (NYSE:AON) Price Target to $389.00

Key Points

• Mizuho lowered AON's price target from $394 to $389 while maintaining an "outperform" rating, implying roughly a 23.56% upside from the prior close.
• The analyst consensus is a Moderate Buy (14 Buys, 4 Holds) with an average price target of $397.88.
• AON beat Q1 estimates, reporting EPS of $6.48 vs. $6.37 expected and revenue of $5.03B vs. $4.97B, with a 22.54% net margin and 43.50% return on equity.

AON (NYSE:AON - Get Free Report) had its target price reduced by stock analysts at Mizuho from $394.00 to $389.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Mizuho's target price suggests a potential upside of 23.56% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their price target on AON from $416.00 to $401.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Evercore reaffirmed an "outperform" rating and set a $436.00 price target on shares of AON in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AON in a research report on Tuesday, April 21st. Cantor Fitzgerald upped their price target on AON from $393.00 to $412.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Finally, Citigroup upped their price target on AON from $402.00 to $412.00 and gave the company a "buy" rating in a research report on Tuesday, February 3rd. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AON currently has a consensus rating of "Moderate Buy" and an average price target of $397.88.

AON Price Performance

Shares of NYSE:AON opened at $314.84 on Tuesday. The company's 50-day moving average is $325.41 and its 200 day moving average is $337.13. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.03 and a current ratio of 1.95. The company has a market capitalization of $67.24 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72. AON has a fifty-two week low of $304.59 and a fifty-two week high of $381.00.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts' consensus estimates of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the firm earned $5.67 EPS. The firm's quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that AON will post 18.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lester B. Knight acquired 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the purchase, the director owned 143,000 shares in the company, valued at $45,651,320. This trade represents a 2.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Darren Zeidel sold 5,040 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total value of $1,641,981.60. Following the sale, the general counsel owned 20,254 shares in the company, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On AON

Institutional investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its stake in AON by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider's stock worth $25,000 after acquiring an additional 35 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in AON during the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in AON during the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new stake in AON in the 4th quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of AON in the 4th quarter valued at approximately $30,000. 86.14% of the stock is currently owned by institutional investors.

AON Company Profile

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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