AON (NYSE:AON) Cut to "Underperform" at Bank of America

AON (NYSE:AON - Get Free Report) was downgraded by investment analysts at Bank of America from a "neutral" rating to an "underperform" rating in a research report issued on Wednesday, MarketBeat reports. They currently have a $306.00 price target on the financial services provider's stock, down from their previous price target of $345.00. Bank of America's price objective indicates a potential upside of 7.50% from the company's current price.

AON has been the topic of a number of other reports. UBS Group decreased their price objective on AON from $333.00 to $308.00 and set a "neutral" rating on the stock in a research report on Monday, February 5th. JPMorgan Chase & Co. upped their price target on AON from $318.00 to $353.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Royal Bank of Canada dropped their price objective on AON from $325.00 to $315.00 and set a "sector perform" rating on the stock in a report on Monday, April 29th. Morgan Stanley increased their target price on shares of AON from $325.00 to $327.00 and gave the stock an "equal weight" rating in a research note on Monday, April 15th. Finally, Piper Sandler dropped their price objective on shares of AON from $326.00 to $312.00 and set a "neutral" rating for the company in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $325.43.

AON Price Performance

Shares of AON stock traded down $5.33 during midday trading on Wednesday, reaching $284.65. The company had a trading volume of 1,571,840 shares, compared to its average volume of 1,192,808. The stock has a fifty day moving average price of $306.59 and a 200 day moving average price of $309.98. The firm has a market cap of $61.89 billion, a PE ratio of 22.31, a P/E/G ratio of 1.86 and a beta of 0.90. AON has a fifty-two week low of $268.06 and a fifty-two week high of $347.37.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.86 by ($0.20). The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.17 EPS. As a group, sell-side analysts forecast that AON will post 15.51 EPS for the current year.

Insider Activity at AON

In other news, Director Lester B. Knight bought 10,000 shares of the business's stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the purchase, the director now directly owns 139,000 shares in the company, valued at $38,448,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AON news, insider Lisa Stevens sold 13,000 shares of AON stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $315.26, for a total value of $4,098,380.00. Following the sale, the insider now owns 10,073 shares of the company's stock, valued at approximately $3,175,613.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lester B. Knight bought 10,000 shares of the company's stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the acquisition, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC lifted its position in shares of AON by 5.1% during the third quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider's stock worth $215,000 after purchasing an additional 32 shares in the last quarter. Valley Wealth Managers Inc. raised its stake in shares of AON by 4.9% during the third quarter. Valley Wealth Managers Inc. now owns 777 shares of the financial services provider's stock worth $252,000 after purchasing an additional 36 shares during the last quarter. Lincoln National Corp raised its stake in shares of AON by 0.7% during the third quarter. Lincoln National Corp now owns 5,446 shares of the financial services provider's stock worth $1,766,000 after purchasing an additional 37 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in AON by 2.2% during the third quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider's stock worth $560,000 after acquiring an additional 37 shares during the period. Finally, Signaturefd LLC grew its holdings in AON by 1.8% during the fourth quarter. Signaturefd LLC now owns 2,149 shares of the financial services provider's stock worth $625,000 after acquiring an additional 38 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.