In a recent research report issued on October 11, 2023, stock analysts at Morgan Stanley have raised the price target for AON (NYSE:AON) from $340.00 to $357.00. The financial services provider also received an “equal weight” rating from the brokerage.
This new target price suggests a potential upside of 9.28% from the company’s previous close. AON traded up $1.18 during Wednesday’s trading session, reaching a price of $326.67. The trading volume for the day was 25,067 shares, compared to its average volume of 795,985.
AON boasts a market capitalization of $66.27 billion and has a PE ratio of 25.44 with a PEG ratio of 2.50. The company has shown consistent growth potential with a beta of 0.90 as well.
Over the past year, AON has experienced fluctuations in its stock price, ranging from a low of $266.35 to a high of $347.37. Currently, its 50-day moving average sits at $328.13 while its 200-day moving average is slightly higher at $327.08.
When considering institutional investors’ activity in AON, several players have recently bought and sold shares of the business. For example, Panagora Asset Management Inc., an institutional investor, increased its position in AON by 34.7% during the first quarter and now owns around 5,003 shares valued at approximately $1,629,000 after purchasing an additional 1,289 shares.
Furthermore, Sequoia Financial Advisors LLC recently raised their position in AON by 134.6% within the same period and currently holds about 1,633 shares valued at approximately $531,000 after adding an additional 937 shares to their portfolio.
Another institution that boosted their holdings in AON is Baird Financial Group Inc. Their position increased by 16.1% during the first quarter, resulting in 28,451 shares valued at around $9,264,000.
Zions Bancorporation N.A., on the other hand, lifted their holdings in AON by 46.0% during the same period and currently holds 1,276 shares worth about $416,000 after purchasing an additional 402 shares.
Lastly, Brown Brothers Harriman & Co. grew their holdings in AON by 5.2% during the first quarter. They now own approximately 4,544 shares valued at $1,480,000 after adding an additional 226 shares to their investment portfolio.
Overall, approximately 86.45% of AON’s stock is owned by institutional investors and hedge funds.
In terms of earnings performance, AON last reported its financial results on July 28th, with an earnings per share (EPS) of $2.76 for the quarter. This figure fell short of analysts’ consensus estimates of $2.83 by ($0.07). Despite this slight miss, AON still maintains a net margin of 20.78%.
The negative return on equity for the company stood at 1,312.86%, highlighting potential areas for improvement in this aspect of their financial performance.
AON generated revenue amounting to $3.18 billion during the second quarter while analyst estimates predicted slightly lower revenues at $3.17 billion for the same period.
Compared to the prior year’s figures from the corresponding period where EPS was reported at $2.63, there has been positive growth as AON recorded a revenue increase of approximately 6.5%.
As equities analysts forecast future prospects for AON and its performance throughout the current year, it is projected that they will post earnings per share of around $14.26 moving forward.
With Morgan Stanley’s price target increase and optimistic outlook, investors will be closely monitoring AON’s movement in the coming months.
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Equities Research Reports Highlight Potential Growth and Insider Activity at AON
Recent Equities Research Reports Highlight Potential Growth and Insider Activity at AON
October 11, 2023
Aon is a leading global professional services firm providing a broad range of risk, retirement, and health solutions. In recent months, equities research analysts have provided valuable insights into the company’s performance and future prospects. This article aims to explore some of the key findings from these reports, focusing on both price objectives and insider activity.
JPMorgan Chase & Co., one of the renowned financial institutions, recently issued a research report boosting their price objective on AON from $322.00 to $351.00. The revised target price indicates that JPMorgan Chase & Co. sees potential growth in the company’s stock value.
Another reputable firm in the financial sector, Jefferies Financial Group, also upped their price target on AON shares from $331.00 to $339.00 in their research report published on October 6th. This adjustment further suggests positive sentiment towards AON’s future performance.
Conversely, Piper Sandler lowered their price objective on AON from $325.00 to $322.00 and gave it a “neutral” rating in their research report released on July 31st. Despite this downgrade, it is worth noting that Piper Sandler still considers AON as a viable investment option.
StockNews.com assumed coverage on AON in their research note dated October 5th and assigned a “hold” rating to the stock. It provides investors with additional perspectives to consider when evaluating investment decisions.
Bank of America analysts also expressed optimism about AON’s prospects by boosting their price objective from $365.00 to $380.00 in another report issued on July 30th.
Currently, there is one analyst who has given a sell rating for the stock, while ten analysts recommend holding it and three suggest buying shares of the company. Bloomberg reports that the consensus rating for AON is “Hold” with an average target price of $346.67 per share.
In other news, insider activity has caught attention in the market. On Wednesday, August 23rd, Director Byron Spruell made a significant stock purchase by acquiring 800 shares at an average cost of $324.57 per share. This transaction amounted to a total value of $259,656.00. Following this acquisition, Spruell now holds 4,001 shares in AON, which are valued at approximately $1,298,604.57.
The purchase was duly disclosed in a filing with the Securities and Exchange Commission (SEC), accessible through the provided hyperlink. It’s worth highlighting that insiders currently own 1.15% of the company’s stock, suggesting a level of confidence from those within AON regarding its future performance.
These recent equities research reports have shed light on AON’s potential growth and insider sentiment. Investors seeking to make informed decisions can reference these findings to gain insights into both market recommendations and insider perspectives.
Please note that before making any investment decisions, it is essential to conduct thorough research and consider individual risk tolerance and financial goals.