Wells Fargo & Company Lowers AON (NYSE:AON) Price Target to $289.00

AON (NYSE:AON - Free Report) had its price objective cut by Wells Fargo & Company from $300.00 to $289.00 in a report issued on Monday, Benzinga reports. They currently have an underweight rating on the financial services provider's stock.

Other research analysts have also issued reports about the company. Bank of America cut their price target on AON from $378.00 to $345.00 and set a neutral rating for the company in a report on Monday. JPMorgan Chase & Co. upped their price target on AON from $318.00 to $353.00 and gave the company an overweight rating in a research report on Monday, April 8th. The Goldman Sachs Group decreased their target price on AON from $350.00 to $310.00 and set a neutral rating on the stock in a report on Tuesday, January 9th. Royal Bank of Canada decreased their target price on AON from $325.00 to $315.00 and set a sector perform rating on the stock in a report on Monday. Finally, UBS Group decreased their target price on AON from $333.00 to $308.00 and set a neutral rating on the stock in a report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $329.69.

AON Stock Performance

Shares of NYSE AON traded down $3.96 during trading hours on Monday, hitting $281.07. The stock had a trading volume of 2,883,220 shares, compared to its average volume of 1,058,446. The company has a market capitalization of $55.80 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.72 and a beta of 0.86. The firm's 50-day moving average price is $317.11 and its two-hundred day moving average price is $313.97. AON has a 52 week low of $268.06 and a 52 week high of $347.37.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the firm posted $5.17 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that AON will post 15.82 EPS for the current fiscal year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.675 dividend. This is a positive change from AON's previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, April 30th. This represents a $2.70 annualized dividend and a yield of 0.96%. AON's dividend payout ratio is presently 19.28%.

Insider Buying and Selling at AON

In other AON news, insider Lisa Stevens sold 13,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 10,073 shares of the company's stock, valued at $3,175,613.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Christa Davies sold 20,618 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $311.40, for a total transaction of $6,420,445.20. Following the sale, the chief financial officer now owns 159,570 shares of the company's stock, valued at $49,690,098. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lisa Stevens sold 13,000 shares of the firm's stock in a transaction dated 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 directly owns 10,073 shares in the company, valued at approximately $3,175,613.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,532 shares of company stock valued at $23,335,805. 1.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BKM Wealth Management LLC bought a new position in shares of AON during the fourth quarter worth about $25,000. Milestone Investment Advisors LLC bought a new position in shares of AON during the third quarter worth about $30,000. Frazier Financial Advisors LLC bought a new position in shares of AON during the fourth quarter worth about $31,000. Rise Advisors LLC bought a new position in shares of AON during the first quarter worth about $37,000. Finally, Headlands Technologies LLC bought a new position in shares of AON during the third quarter worth about $39,000. 86.14% of the stock is currently owned by institutional investors.

AON Company Profile

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.