AON’s (AON) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of AON (NYSE:AON) in a research note released on Monday, Benzinga reports. Royal Bank of Canada currently has a $335.00 price target on the financial services provider’s stock.

A number of other research firms also recently issued reports on AON. Keefe, Bruyette & Woods upgraded AON from an underperform rating to an outperform rating and increased their price objective for the stock from $313.00 to $380.00 in a report on Tuesday, July 30th. Morgan Stanley decreased their price target on AON from $300.00 to $296.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Citigroup began coverage on AON in a research note on Wednesday, May 22nd. They issued a neutral rating and a $309.00 price target for the company. Bank of America downgraded AON from a neutral rating to an underperform rating and decreased their price target for the company from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $311.00 price target on shares of AON in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, AON presently has an average rating of Hold and an average target price of $330.21.

AON Stock Up 0.3 %

NYSE:AON opened at $326.93 on Monday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The company has a market cap of $71.02 billion, a PE ratio of 25.62, a PEG ratio of 2.07 and a beta of 0.91. AON has a 52-week low of $268.06 and a 52-week high of $344.68. The stock has a 50-day simple moving average of $300.51 and a 200 day simple moving average of $304.13.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. AON had a return on equity of 252.81% and a net margin of 18.00%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.76 earnings per share. On average, sell-side analysts expect that AON will post 15.28 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.83%. AON’s dividend payout ratio is currently 21.16%.

Institutional Trading of AON

Hedge funds have recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in AON during the 4th quarter worth approximately $31,000. Y.D. More Investments Ltd acquired a new stake in AON during the 2nd quarter worth approximately $31,000. Rise Advisors LLC acquired a new stake in AON during the 1st quarter worth approximately $37,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AON during the 4th quarter worth approximately $43,000. Finally, First United Bank & Trust acquired a new stake in AON during the 4th quarter worth approximately $44,000. 86.14% of the stock is 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.