Royal Bank of Canada Trims AON (NYSE:AON) Target Price to $315.00

AON (NYSE:AON) had its price target decreased by Royal Bank of Canada from $325.00 to $315.00 in a report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the financial services provider’s stock.

AON has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective on AON from $318.00 to $353.00 and gave the company an overweight rating in a report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of AON from $294.00 to $312.00 and gave the stock an underperform rating in a research note on Wednesday, April 10th. Piper Sandler cut their target price on shares of AON from $326.00 to $312.00 and set a neutral rating for the company in a research note on Monday. UBS Group lowered their price target on AON from $333.00 to $308.00 and set a neutral rating on the stock in a research report on Monday, February 5th. Finally, TD Cowen initiated coverage on AON in a research note on Wednesday, January 10th. They set an outperform rating and a $390.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $329.69.

AON Trading Up 0.5 %

Shares of AON opened at $283.55 on Monday. AON has a 12 month low of $268.06 and a 12 month high of $347.37. The firm has a fifty day simple moving average of $315.28 and a 200 day simple moving average of $313.15. The stock has a market capitalization of $61.65 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.72 and a beta of 0.86.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing analysts’ consensus estimates of $5.86 by ($0.20). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the company earned $5.17 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts predict that AON will post 15.64 earnings per share for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.95%. This is a positive change from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, April 30th. AON’s dividend payout ratio is currently 19.28%.

Insider Transactions at AON

In related news, insider Lisa Stevens sold 13,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $315.26, for a total transaction of $4,098,380.00. Following the transaction, the insider now directly owns 10,073 shares of the company’s stock, valued at $3,175,613.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Lisa Stevens sold 13,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $315.26, for a total transaction of $4,098,380.00. Following the sale, the insider now owns 10,073 shares of the company’s stock, valued at $3,175,613.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lester B. Knight acquired 50,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was bought at an average cost of $301.97 per share, with a total value of $15,098,500.00. Following the completion of the acquisition, the director now directly owns 134,000 shares in the company, valued at $40,463,980. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 74,532 shares of company stock valued at $23,335,805. 1.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AON

A number of large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of AON by 2.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,719 shares of the financial services provider’s stock worth $9,311,000 after acquiring an additional 619 shares in the last quarter. Busey Trust CO increased its stake in shares of AON by 36.5% in the 3rd quarter. Busey Trust CO now owns 4,682 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 1,252 shares during the last quarter. Toews Corp ADV acquired a new position in shares of AON during the 3rd quarter worth $746,000. Kingswood Wealth Advisors LLC acquired a new stake in AON in the third quarter valued at about $1,746,000. Finally, Robeco Institutional Asset Management B.V. grew its position in AON by 57.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 69,891 shares of the financial services provider’s stock valued at $22,660,000 after acquiring an additional 25,595 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Company Profile

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.