Aon PLC (NYSE:AON) – Langen Mcalenn lowered their FY2019 earnings estimates for AON in a research note issued on Wednesday, September 12th, Zacks Investment Research reports. Langen Mcalenn analyst L. Greenberg now anticipates that the financial services provider will post earnings per share of $9.25 for the year, down from their prior forecast of $9.30.
AON has been the subject of several other reports. Raymond James raised shares of AON from an “underperform” rating to an “outperform” rating in a research note on Tuesday, September 25th. Credit Suisse Group initiated coverage on shares of AON in a research report on Tuesday, August 7th. They set a “neutral” rating and a $154.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $164.00 price objective on shares of AON in a research report on Sunday, July 29th. Finally, Zacks Investment Research cut shares of AON from a “buy” rating to a “hold” rating in a research report on Friday, July 6th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $155.13.
Shares of AON stock traded down $1.90 on Thursday, hitting $155.52. The company had a trading volume of 1,003,506 shares, compared to its average volume of 994,518. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $37.32 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.99. AON has a 52 week low of $130.87 and a 52 week high of $158.77.
AON (NYSE:AON) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.53 billion. AON had a net margin of 7.41% and a return on equity of 42.17%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 EPS.
In related news, Director Jeffrey C. Campbell acquired 5,550 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was acquired at an average price of $143.84 per share, with a total value of $798,312.00. Following the acquisition, the director now directly owns 7,084 shares in the company, valued at approximately $1,018,962.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Caroline Grace sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $150.00, for a total value of $600,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,750 shares of company stock valued at $1,327,685. Insiders own 0.42% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in AON by 18.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,823 shares of the financial services provider’s stock valued at $1,210,000 after buying an additional 1,350 shares in the last quarter. Renaissance Technologies LLC grew its holdings in AON by 15.3% during the 2nd quarter. Renaissance Technologies LLC now owns 495,501 shares of the financial services provider’s stock valued at $67,968,000 after buying an additional 65,700 shares in the last quarter. Employees Retirement System of Texas grew its holdings in AON by 8.6% during the 2nd quarter. Employees Retirement System of Texas now owns 75,540 shares of the financial services provider’s stock valued at $10,362,000 after buying an additional 5,950 shares in the last quarter. BlueMountain Capital Management LLC boosted its position in shares of AON by 346.8% during the 2nd quarter. BlueMountain Capital Management LLC now owns 13,385 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 10,389 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of AON by 62.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 152,217 shares of the financial services provider’s stock valued at $20,879,000 after acquiring an additional 58,594 shares during the last quarter. 83.42% of the stock is owned by institutional investors.
About AON
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.