Citigroup Increases AON (AON) Price Target to $180.00
AON (NYSE:AON) had its price target boosted by investment analysts at Citigroup from $167.00 to $180.00 in a report issued on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would suggest a potential upside of 21.75% from the company’s current price.
Several other research firms have also recently commented on AON. Credit Suisse Group set a $158.00 price target on shares of AON and gave the company a “hold” rating in a report on Tuesday, October 9th. Raymond James upgraded shares of AON from an “underperform” rating to an “outperform” rating in a report on Tuesday, September 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $164.00 price objective on shares of AON in a report on Sunday, July 29th. Finally, Zacks Investment Research cut shares of AON from a “buy” rating to a “hold” rating in a report on Friday, July 6th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $157.50.
AON stock opened at $147.84 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.63 and a current ratio of 1.63. AON has a 12 month low of $130.87 and a 12 month high of $158.77. The firm has a market cap of $37.32 billion, a PE ratio of 22.67, a P/E/G ratio of 1.64 and a beta of 0.99.
In related news, insider Michael Neller sold 750 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $143.58, for a total value of $107,685.00. Following the completion of the sale, the insider now directly owns 787 shares in the company, valued at $112,997.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Caroline Grace sold 4,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $155.00, for a total transaction of $620,000.00. Following the completion of the sale, the chief executive officer now owns 45,796 shares of the company’s stock, valued at $7,098,380. The disclosure for this sale can be found here. Insiders sold 8,750 shares of company stock valued at $1,327,685 over the last quarter. 0.42% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in AON. Townsend & Associates Inc acquired a new position in AON during the 2nd quarter worth $106,000. Pinebridge Investments L.P. acquired a new position in AON during the 2nd quarter worth $132,000. Shine Investment Advisory Services Inc. lifted its position in AON by 1,468.2% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,035 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 969 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in AON by 50.0% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,200 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 400 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in AON during the 2nd quarter worth $176,000. 83.42% of the stock is owned by hedge funds and other institutional investors.
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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