AON (AON) Downgraded by Goldman Sachs Group
Goldman Sachs Group cut shares of AON (NYSE:AON) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have $163.00 price target on the financial services provider’s stock, down from their previous price target of $171.00.
Several other brokerages have also recently issued reports on AON. ValuEngine cut shares of AON from a buy rating to a hold rating in a research note on Wednesday, December 26th. Keefe, Bruyette & Woods cut shares of AON from an outperform rating to a market perform rating in a research note on Thursday, December 13th. Credit Suisse Group set a $158.00 target price on shares of AON and gave the stock a hold rating in a research note on Tuesday, October 9th. Wells Fargo & Co set a $165.00 target price on shares of AON and gave the stock a hold rating in a research note on Monday, November 12th. Finally, Raymond James raised shares of AON from an underperform rating to an outperform rating in a research report on Tuesday, September 25th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. AON has a consensus rating of Hold and a consensus price target of $162.00.
AON traded down $1.78 on Tuesday, hitting $145.85. 11,342 shares of the company’s stock were exchanged, compared to its average volume of 1,083,762. AON has a fifty-two week low of $133.41 and a fifty-two week high of $166.55. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.31. The stock has a market cap of $34.95 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 1st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, January 31st. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. AON’s payout ratio is 24.54%.
In other news, CEO Caroline Grace sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $160.00, for a total transaction of $640,000.00. Following the transaction, the chief executive officer now owns 41,796 shares of the company’s stock, valued at approximately $6,687,360. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Waldron Private Wealth LLC lifted its position in AON by 5.0% in the third quarter. Waldron Private Wealth LLC now owns 3,147 shares of the financial services provider’s stock valued at $483,000 after buying an additional 150 shares during the last quarter. North Star Investment Management Corp. lifted its position in AON by 7.8% in the fourth quarter. North Star Investment Management Corp. now owns 2,712 shares of the financial services provider’s stock valued at $394,000 after buying an additional 197 shares during the last quarter. First Mercantile Trust Co. lifted its position in AON by 18.8% in the third quarter. First Mercantile Trust Co. now owns 1,984 shares of the financial services provider’s stock valued at $305,000 after buying an additional 314 shares during the last quarter. Moody National Bank Trust Division acquired a new position in AON in the fourth quarter valued at about $49,000. Finally, Freestone Capital Holdings LLC lifted its position in AON by 5.9% in the third quarter. Freestone Capital Holdings LLC now owns 6,172 shares of the financial services provider’s stock valued at $949,000 after buying an additional 346 shares during the last quarter. 84.55% of the stock is currently owned by hedge funds and other institutional investors.
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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