Wells Fargo & Company Issues Pessimistic Forecast for AON (NYSE:AON) Stock Price

Key Points

• Wells Fargo trimmed its price target on AON from $409 to $406 while keeping an overweight rating, implying about 14.78% upside from the prior close.
• Other analysts remain mostly positive on AON, with a consensus rating of Moderate Buy and an average target price of $402.19 despite a few recent target cuts.
• AON’s stock fell 1.1% to $353.71 in Thursday trading, even though the company recently beat quarterly EPS and revenue estimates and reported 6.4% year-over-year revenue growth.

AON (NYSE:AON - Get Free Report) had its target price dropped by research analysts at Wells Fargo & Company from $409.00 to $406.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price points to a potential upside of 14.78% from the stock's previous close.

AON has been the subject of several other research reports. Keefe, Bruyette & Woods lowered their price target on AON from $404.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of AON from $406.00 to $396.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Cantor Fitzgerald raised their target price on shares of AON from $416.00 to $445.00 and gave the stock an "overweight" rating in a research report on Thursday. TD Cowen reaffirmed a "buy" rating on shares of AON in a research note on Monday, March 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of AON in a report on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $402.19.

AON Trading Down 1.1%

AON traded down $3.80 during trading on Thursday, hitting $353.71. The company's stock had a trading volume of 241,494 shares, compared to its average volume of 1,501,545. AON has a twelve month low of $304.59 and a twelve month high of $381.00. The stock has a market cap of $75.55 billion, a PE ratio of 19.43, a PEG ratio of 1.89 and a beta of 0.71. The firm's 50 day moving average price is $325.72 and its 200-day moving average price is $330.73. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.37 by $0.11. The business had revenue of $5.03 billion for the quarter, compared to analysts' expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The business's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.67 earnings per share. On average, analysts expect that AON will post 19.09 earnings per share for the current year.

Institutional Investors Weigh In On AON

A number of large investors have recently modified their holdings of the stock. HF Advisory Group LLC lifted its position in AON by 392.3% during the 2nd quarter. HF Advisory Group LLC now owns 3,638 shares of the financial services provider's stock worth $1,207,000 after acquiring an additional 2,899 shares in the last quarter. Valeo Financial Advisors LLC grew its position in AON by 25.2% in the second quarter. Valeo Financial Advisors LLC now owns 1,151 shares of the financial services provider's stock valued at $382,000 after acquiring an additional 232 shares in the last quarter. Kwmg LLC raised its stake in shares of AON by 3.3% during the second quarter. Kwmg LLC now owns 21,084 shares of the financial services provider's stock valued at $6,993,000 after purchasing an additional 664 shares during the period. LifeGoal Investments LLC acquired a new position in shares of AON during the second quarter worth $295,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of AON by 35.6% in the second quarter. Elevation Wealth Partners LLC now owns 221 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

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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