AON (NYSE:AON) Rating Lowered to Strong Sell at Zacks Research

AON (NYSE:AON) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

AON has been the subject of several other reports. Barclays dropped their target price on AON from $382.00 to $317.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Evercore decreased their price target on AON from $423.00 to $375.00 in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lowered their price objective on AON from $417.00 to $342.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of AON in a research note on Tuesday, September 1st. Finally, Jefferies Financial Group dropped their price objective on AON from $387.00 to $383.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, AON presently has an average rating of “Hold” and an average price target of $367.59.

AON Price Performance

AON stock opened at $303.15 on Monday. The firm has a fifty day simple moving average of $303.87 and a two-hundred day simple moving average of $326.56. AON has a twelve month low of $266.33 and a twelve month high of $382.34.

AON (NYSE:AON) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.01. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $3.49 earnings per share. As a group, research analysts anticipate that AON will post 18.73 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lester Knight acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was acquired at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the acquisition, the director owned 163,000 shares of the company’s stock, valued at $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AON

Large investors have recently modified their holdings of the stock. North Dakota State Investment Board increased its position in shares of AON by 2.1% during the third quarter. North Dakota State Investment Board now owns 6,374 shares of the financial services provider’s stock valued at $1,764,000 after buying an additional 131 shares during the period. Generali Asset Management SPA SGR lifted its holdings in AON by 94.7% in the third quarter. Generali Asset Management SPA SGR now owns 3,000 shares of the financial services provider’s stock worth $830,000 after buying an additional 1,459 shares during the period. Asset Management One Co. Ltd. lifted its holdings in AON by 3.4% in the third quarter. Asset Management One Co. Ltd. now owns 94,776 shares of the financial services provider’s stock worth $26,231,000 after buying an additional 3,141 shares during the period. Latitude Advisors LLC bought a new stake in AON during the 3rd quarter valued at approximately $126,000. Finally, Ashton Thomas Securities LLC bought a new stake in AON during the 3rd quarter valued at approximately $750,000. Institutional investors own 86.14% of the company’s stock.

About AON

Aon plc is a global professional services firm that helps organizations manage risk, make informed decisions and improve workforce outcomes. Its services span commercial risk, health, retirement and investments, and data and analytics.

The company provides insurance brokerage and risk-management services, including coverage placement, claims support, risk transfer and consulting. Through its reinsurance business, Aon also serves insurers and other organizations seeking to manage catastrophe, capital and underwriting risks.

Aon’s human capital offerings include employee benefits consulting, retirement advisory services, talent and compensation consulting, and health and workforce solutions.