AON (NYSE:AON) Price Target Cut to $360.00 by Analysts at UBS Group

AON (NYSE:AON) had its price target decreased by analysts at UBS Group from $385.00 to $360.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective points to a potential upside of 8.63% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Bank of America raised AON from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $398.00 to $397.00 in a research note on Friday, February 27th. Morgan Stanley decreased their target price on shares of AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Barclays dropped their target price on shares of AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Mizuho reduced their price target on shares of AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Finally, Citigroup upped their target price on AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, AON has a consensus rating of “Moderate Buy” and an average price target of $394.94.

AON Trading Up 0.6%

Shares of NYSE:AON opened at $331.41 on Tuesday. The business’s 50 day simple moving average is $322.82 and its 200 day simple moving average is $332.44. AON has a 1 year low of $304.59 and a 1 year high of $381.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $70.78 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.76 and a beta of 0.71.

AON (NYSE:AON) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.67 EPS. On average, research analysts anticipate that AON will post 19.1 EPS for the current fiscal year.

Hedge Funds Weigh In On AON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox increased its position in AON by 126.6% during the 4th quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock valued at $2,770,975,000 after purchasing an additional 4,387,773 shares during the period. Norges Bank acquired a new stake in shares of AON during the fourth quarter worth $1,155,981,000. Viking Global Investors LP bought a new position in AON during the third quarter worth $504,424,000. Balyasny Asset Management L.P. lifted its holdings in AON by 40,219.8% in the third quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock valued at $301,922,000 after buying an additional 844,615 shares during the period. Finally, Southpoint Capital Advisors LP bought a new stake in AON during the fourth quarter valued at $229,372,000. 86.14% of the stock is owned by institutional investors and hedge funds.

About AON

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.