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

Zacks Research lowered shares of AON (NYSE:AON) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks reports.

A number of other research firms have also weighed in on AON. UBS Group reiterated a “neutral” rating on shares of AON in a research note on Monday, August 31st. Wells Fargo & Company decreased their target price on AON from $383.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Citigroup initiated coverage on shares of AON in a research note on Monday, September 21st. They set a “buy” rating and a $435.00 target price for the company. Wall Street Zen cut shares of AON from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Finally, Bank of America upped their price target on shares of AON from $298.00 to $327.00 and gave the stock an “underperform” rating in a report on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $367.59.

AON Stock Up 0.4%

Shares of NYSE:AON opened at $303.15 on Monday. AON has a 12 month low of $266.33 and a 12 month high of $382.34. The company has a 50-day moving average price of $303.87 and a 200 day moving average price of $326.56.

AON (NYSE:AON) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, topping the consensus estimate of $3.80 by $0.01. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.49 earnings per share. Research analysts expect that AON will post 18.73 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 2nd.

Insider Buying and Selling at AON

In other news, Director Lester Knight acquired 20,000 shares of AON stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average price of $327.48 per share, for a total transaction of $6,549,600.00. Following the purchase, the director directly owned 163,000 shares in the company, valued at $53,379,240. The trade was a 13.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On AON

Several institutional investors have recently bought and sold shares of AON. 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 worth $1,764,000 after purchasing an additional 131 shares in the last quarter. Generali Asset Management SPA SGR lifted its holdings in shares of AON by 94.7% during the 3rd quarter. Generali Asset Management SPA SGR now owns 3,000 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 1,459 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of AON by 3.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 94,776 shares of the financial services provider’s stock worth $26,231,000 after purchasing an additional 3,141 shares in the last quarter. Latitude Advisors LLC acquired a new stake in shares of AON in the 3rd quarter worth $126,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of AON in the 3rd quarter worth $750,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.