AON (NYSE:AON) Stock Price Down 6.2% – Here’s Why

Aon plc (NYSE:AON)’s stock price dropped 6.2% during trading on Monday . The stock traded as low as $324.82 and last traded at $320.8140. Approximately 1,046,432 shares traded hands during trading, a decline of 14% from the average daily volume of 1,214,277 shares. The stock had previously closed at $342.04.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AON shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AON in a report on Monday, December 29th. Keefe, Bruyette & Woods raised their target price on shares of AON from $410.00 to $416.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group set a $395.00 price target on shares of AON in a research note on Wednesday, January 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $408.00 price objective on shares of AON in a report on Monday, February 2nd. Finally, Roth Mkm restated a “buy” rating and set a $390.00 price target on shares of AON in a research report on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, AON presently has a consensus rating of “Moderate Buy” and an average price target of $409.75.

AON Price Performance

The business’s 50-day simple moving average is $347.41 and its 200-day simple moving average is $353.42. The stock has a market cap of $66.56 billion, a PE ratio of 18.19, a PEG ratio of 1.75 and a beta of 0.83. The company has a quick ratio of 1.35, a current ratio of 2.03 and a debt-to-equity ratio of 1.55.

AON (NYSE:AON) last announced its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.75 by $0.10. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.42 EPS. On average, research analysts expect that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, February 2nd. AON’s dividend payout ratio (DPR) is currently 17.51%.

Institutional Trading of AON

A number of institutional investors have recently made changes to their positions in AON. Silver Lake Advisory LLC purchased a new stake in shares of AON in the 3rd quarter worth $1,292,000. Callan Family Office LLC raised its holdings in shares of AON by 220.7% in the 3rd quarter. Callan Family Office LLC now owns 11,675 shares of the financial services provider’s stock valued at $4,163,000 after purchasing an additional 8,034 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of AON by 6.6% in the 2nd quarter. Nordea Investment Management AB now owns 17,062 shares of the financial services provider’s stock worth $6,051,000 after purchasing an additional 1,061 shares during the period. Arrowroot Family Office LLC purchased a new position in AON during the second quarter valued at approximately $541,000. Finally, National Pension Service lifted its holdings in AON by 1.0% during the third quarter. National Pension Service now owns 420,423 shares of the financial services provider’s stock worth $149,914,000 after buying an additional 3,962 shares during the period. Hedge funds and other institutional investors 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.