Evercore ISI Boosts AON (NYSE:AON) Price Target to $384.00

AON (NYSE:AON) had its target price raised by equities research analysts at Evercore ISI from $338.00 to $384.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s target price points to a potential upside of 7.80% from the company’s previous close.

A number of other equities analysts have also recently issued reports on AON. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and increased their price target for the company from $313.00 to $380.00 in a research note on Tuesday, July 30th. Barclays assumed coverage on AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price objective on the stock. Morgan Stanley cut their price target on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Piper Sandler upped their price objective on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $340.27.

AON Price Performance

Shares of NYSE AON traded up $2.24 during trading hours on Wednesday, hitting $356.21. 114,776 shares of the stock were exchanged, compared to its average volume of 1,187,700. AON has a 1-year low of $268.06 and a 1-year high of $356.81. The company has a market cap of $77.38 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The company’s fifty day simple moving average is $341.10 and its two-hundred day simple moving average is $313.61.

AON (NYSE:AON) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business earned $2.76 earnings per share. On average, sell-side analysts predict that AON will post 15.22 EPS for the current year.

Hedge Funds Weigh In On AON

Several hedge funds and other institutional investors have recently bought and sold shares of AON. Vanguard Group Inc. lifted its stake in shares of AON by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock valued at $5,894,053,000 after purchasing an additional 64,500 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in AON by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,552,569 shares of the financial services provider’s stock valued at $3,685,183,000 after buying an additional 309,702 shares during the period. Mawer Investment Management Ltd. boosted its holdings in shares of AON by 1.2% during the 2nd quarter. Mawer Investment Management Ltd. now owns 4,405,780 shares of the financial services provider’s stock worth $1,293,449,000 after buying an additional 52,099 shares in the last quarter. Sustainable Growth Advisers LP increased its stake in shares of AON by 4.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 2,805,199 shares of the financial services provider’s stock valued at $936,151,000 after acquiring an additional 127,173 shares in the last quarter. Finally, Independent Franchise Partners LLP lifted its position in shares of AON by 2.1% during the 2nd quarter. Independent Franchise Partners LLP now owns 2,409,530 shares of the financial services provider’s stock valued at $707,390,000 after acquiring an additional 49,161 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.