Wells Fargo & Company Lowers AON (NYSE:AON) Price Target to $448.00

Key Points

• Wells Fargo & Company has lowered its price target for AON from $451.00 to $448.00, but maintains an "overweight" rating on the stock.
• Despite the target reduction, the new price indicates a potential upside of 21.47% from AON's previous close.
• Analysts' ratings for AON vary, with one strong buy, eleven buys, five holds, and one sell, leading to an average rating of "Moderate Buy" and a consensus target price of $415.69.

AON (NYSE:AON - Get Free Report) had its price objective cut by analysts at Wells Fargo & Company from $451.00 to $448.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target indicates a potential upside of 21.47% from the company's previous close.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised AON from a "hold" rating to a "buy" rating and increased their price target for the company from $400.00 to $426.00 in a research report on Wednesday, July 30th. Piper Sandler raised their price objective on AON from $393.00 to $413.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Evercore ISI raised their price objective on AON from $421.00 to $427.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. TD Cowen cut their price objective on AON from $427.00 to $419.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Finally, Wolfe Research started coverage on AON in a research report on Monday, September 15th. They issued a "peer perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $415.69.

AON Stock Up 0.5%

NYSE AON traded up $1.88 during trading hours on Wednesday, hitting $368.81. 385,024 shares of the company traded hands, compared to its average volume of 1,299,891. The business's 50-day moving average is $363.98 and its 200-day moving average is $363.47. AON has a twelve month low of $323.73 and a twelve month high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market capitalization of $79.53 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 2.17 and a beta of 0.89.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that AON will post 17.21 earnings per share for the current year.

Institutional Investors Weigh In On AON

A number of large investors have recently modified their holdings of AON. Capital Investment Advisors LLC raised its position in AON by 5.0% in the first quarter. Capital Investment Advisors LLC now owns 1,917 shares of the financial services provider's stock valued at $765,000 after purchasing an additional 92 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of AON by 26.0% during the first quarter. Farther Finance Advisors LLC now owns 1,265 shares of the financial services provider's stock valued at $505,000 after purchasing an additional 261 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of AON during the first quarter valued at about $580,000. Yousif Capital Management LLC boosted its stake in shares of AON by 5.7% during the first quarter. Yousif Capital Management LLC now owns 29,193 shares of the financial services provider's stock valued at $11,651,000 after purchasing an additional 1,584 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of AON by 41.7% during the first quarter. GAMMA Investing LLC now owns 1,909 shares of the financial services provider's stock valued at $762,000 after purchasing an additional 562 shares in the last quarter. Institutional investors and hedge funds 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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