BidaskClub Downgrades Aon PLC (AON) to Buy

Aon PLC (NYSE:AON) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Other equities analysts have also issued reports about the company. Jefferies Group LLC restated a “buy” rating and set a $146.00 price target on shares of Aon PLC in a research report on Friday, June 16th. Zacks Investment Research upgraded Aon PLC from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a research report on Monday, June 5th. Citigroup Inc. raised their price target on Aon PLC from $144.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Barclays PLC raised their price target on Aon PLC from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, July 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $138.00 price objective (up from $130.00) on shares of Aon PLC in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $139.00.

Shares of Aon PLC (NYSE:AON) traded up 0.42% during mid-day trading on Friday, reaching $137.28. The company had a trading volume of 494,182 shares. The firm has a market capitalization of $34.92 billion, a PE ratio of 20.05 and a beta of 1.03. Aon PLC has a 12-month low of $107.19 and a 12-month high of $141.45. The stock has a 50 day moving average price of $137.26 and a 200 day moving average price of $125.89.

Aon PLC (NYSE:AON) last posted its quarterly earnings results on Friday, August 4th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.45. Aon PLC had a return on equity of 32.62% and a net margin of 17.28%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the company earned $1.39 EPS. Aon PLC’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that Aon PLC will post $6.50 earnings per share for the current year.

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In other news, EVP Peter M. Lieb sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $130.40, for a total value of $260,800.00. Following the completion of the transaction, the executive vice president now owns 20,216 shares in the company, valued at approximately $2,636,166.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in Aon PLC by 1,108.1% in the second quarter. Janus Henderson Group PLC now owns 3,180,268 shares of the financial services provider’s stock worth $422,814,000 after buying an additional 2,917,018 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Aon PLC by 2,385.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,224,194 shares of the financial services provider’s stock worth $162,757,000 after buying an additional 1,174,940 shares during the last quarter. Vanguard Group Inc. boosted its position in Aon PLC by 2.4% in the second quarter. Vanguard Group Inc. now owns 17,812,319 shares of the financial services provider’s stock worth $2,368,149,000 after buying an additional 415,363 shares during the last quarter. Egerton Capital UK LLP purchased a new position in Aon PLC during the second quarter worth approximately $45,094,000. Finally, Russell Investments Group Ltd. boosted its position in Aon PLC by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 1,045,970 shares of the financial services provider’s stock worth $124,125,000 after buying an additional 210,931 shares during the last quarter. Institutional investors own 85.91% of the company’s stock.

About Aon PLC

Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.