AON (NYSE:AON) Sees Large Volume Increase After Analyst Upgrade

Aon plc (NYSE:AON - Get Free Report) shares saw unusually-high trading volume on Friday after JPMorgan Chase & Co. raised their price target on the stock from $379.00 to $394.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Approximately 506,644 shares changed hands during trading, an increase of 69% from the previous session's volume of 298,933 shares.The stock last traded at $354.61 and had previously closed at $354.98.

Several other brokerages have also weighed in on AON. TD Cowen lifted their target price on shares of AON from $413.00 to $432.00 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on AON from $385.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Barclays upped their price target on AON from $394.00 to $440.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Wells Fargo & Company upgraded shares of AON from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $315.00 to $377.00 in a research note on Monday, October 28th. Finally, Evercore ISI increased their target price on shares of AON from $338.00 to $384.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $363.00.

Insider Buying and Selling

In other news, insider Lisa Stevens sold 1,275 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $387.68, for a total transaction of $494,292.00. Following the completion of the transaction, the insider now directly owns 8,077 shares in the company, valued at approximately $3,131,291.36. The trade was a 13.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mindy F. Simon sold 650 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $394.34, for a total transaction of $256,321.00. Following the completion of the sale, the chief operating officer now owns 1,816 shares in the company, valued at $716,121.44. This represents a 26.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On AON

Several hedge funds have recently bought and sold shares of the company. Everence Capital Management Inc. grew its stake in AON by 109.8% in the fourth quarter. Everence Capital Management Inc. now owns 5,370 shares of the financial services provider's stock valued at $1,929,000 after acquiring an additional 2,810 shares during the period. GAMMA Investing LLC raised its holdings in AON by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 1,347 shares of the financial services provider's stock worth $484,000 after buying an additional 467 shares during the period. Versant Capital Management Inc lifted its stake in AON by 47.1% in the fourth quarter. Versant Capital Management Inc now owns 275 shares of the financial services provider's stock valued at $99,000 after buying an additional 88 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of AON during the third quarter worth $79,390,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of AON by 24.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 872 shares of the financial services provider's stock worth $302,000 after acquiring an additional 170 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Down 0.3 %

The firm's 50-day moving average is $372.46 and its 200 day moving average is $344.00. The firm has a market capitalization of $76.55 billion, a P/E ratio of 29.87, a PEG ratio of 2.27 and a beta of 0.93. The company has a debt-to-equity ratio of 2.66, a quick ratio of 2.05 and a current ratio of 2.05.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, November 1st. AON's dividend payout ratio is presently 22.78%.

About AON

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.