Wells Fargo & Company Upgrades AON (NYSE:AON) to Equal Weight

Wells Fargo & Company upgraded shares of AON (NYSE:AON) from an underweight rating to an equal weight rating in a research report released on Monday morning, MarketBeat Ratings reports. They currently have $377.00 target price on the financial services provider’s stock, up from their prior target price of $315.00.

A number of other research firms have also recently commented on AON. Keefe, Bruyette & Woods upgraded shares of AON from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $313.00 to $380.00 in a research report on Tuesday, July 30th. Bank of America lifted their price objective on AON from $345.00 to $375.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their target price on AON from $344.00 to $365.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler upped their price target on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of AON from $311.00 to $353.00 and gave the stock a “hold” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AON has an average rating of “Hold” and a consensus price target of $355.75.

AON Stock Performance

AON stock opened at $366.79 on Monday. The company has a market cap of $79.32 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92. AON has a twelve month low of $268.06 and a twelve month high of $389.21. The business’s fifty day moving average is $351.60 and its 200-day moving average is $318.23. The company has a quick ratio of 2.42, a current ratio of 2.05 and a debt-to-equity ratio of 2.66.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.675 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.70 annualized dividend and a dividend yield of 0.74%. AON’s dividend payout ratio is presently 22.78%.

Institutional Investors Weigh In On AON

Several hedge funds have recently bought and sold shares of the company. Y.D. More Investments Ltd acquired a new stake in shares of AON during the 2nd quarter worth about $31,000. Norden Group LLC bought a new stake in shares of AON during the first quarter worth approximately $2,044,000. Daiwa Securities Group Inc. grew its position in shares of AON by 14.2% in the first quarter. Daiwa Securities Group Inc. now owns 21,145 shares of the financial services provider’s stock valued at $7,056,000 after purchasing an additional 2,624 shares during the last quarter. Vanguard Group Inc. lifted its holdings in AON by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 17,661,672 shares of the financial services provider’s stock worth $5,894,053,000 after purchasing an additional 64,500 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in AON by 150.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 96,321 shares of the financial services provider’s stock valued at $33,326,000 after purchasing an additional 57,847 shares during the period. 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.