Jefferies Financial Group Comments on Aon plc’s Q1 2023 Earnings (NYSE:AON)

Posted by Defense World Staff on Apr 13th, 2023

Aon plc (NYSE:AON – Get Rating) – Jefferies Financial Group boosted their Q1 2023 earnings per share (EPS) estimates for AON in a report issued on Monday, April 10th. Jefferies Financial Group analyst Y. Kinar now forecasts that the financial services provider will post earnings of $5.31 per share for the quarter, up from their prior estimate of $5.22. Jefferies Financial Group currently has a “Hold” rating and a $314.00 target price on the stock. The consensus estimate for AON’s current full-year earnings is $14.54 per share. Jefferies Financial Group also issued estimates for AON’s Q2 2023 earnings at $2.95 EPS, Q3 2023 earnings at $2.31 EPS, Q4 2023 earnings at $4.28 EPS and FY2024 earnings at $16.25 EPS.

A number of other equities analysts have also weighed in on the stock. Credit Suisse Group assumed coverage on shares of AON in a research note on Friday, January 13th. They issued an “outperform” rating and a $363.00 target price for the company. StockNews.com assumed coverage on shares of AON in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Citigroup increased their price target on shares of AON from $339.00 to $340.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 8th. Roth Capital restated a “buy” rating on shares of AON in a research report on Tuesday, February 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AON from $320.00 to $322.00 and gave the company a “neutral” rating in a report on Friday, March 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $318.64.

AON Stock Performance

Shares of AON stock opened at $321.76 on Wednesday. AON has a 52 week low of $246.21 and a 52 week high of $341.98. The firm has a fifty day moving average of $308.97 and a two-hundred day moving average of $301.06. The stock has a market capitalization of $66.01 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.18 and a beta of 0.89.

AON (NYSE:AON – Get Rating) last released its quarterly earnings data on Friday, February 3rd. The financial services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.22. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.13 billion. AON had a return on equity of 1,165.31% and a net margin of 20.75%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.71 earnings per share.

Institutional Investors Weigh In On AON

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. boosted its stake in AON by 101.1% during the 1st quarter. Vontobel Holding Ltd. now owns 50,198 shares of the financial services provider’s stock worth $15,827,000 after purchasing an additional 25,237 shares during the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of AON by 0.7% during the 1st quarter. Chesley Taft & Associates LLC now owns 11,666 shares of the financial services provider’s stock worth $3,678,000 after acquiring an additional 85 shares during the period. Canandaigua National Bank & Trust Co. purchased a new position in shares of AON during the 1st quarter worth $1,586,000. Beese Fulmer Investment Management Inc. raised its holdings in shares of AON by 1.7% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 20,378 shares of the financial services provider’s stock worth $6,424,000 after acquiring an additional 342 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of AON by 90.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 492 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 86.12% of the company’s stock.

Insider Activity

In other news, CFO Christa Davies sold 617 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $318.36, for a total value of $196,428.12. Following the transaction, the chief financial officer now directly owns 199,571 shares in the company, valued at $63,535,423.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Christa Davies sold 617 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $318.36, for a total value of $196,428.12. Following the sale, the chief financial officer now directly owns 199,571 shares in the company, valued at approximately $63,535,423.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Neller sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $311.59, for a total transaction of $311,590.00. Following the completion of the transaction, the insider now directly owns 1,216 shares of the company’s stock, valued at $378,893.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,389 shares of company stock valued at $22,664,130. 1.06% of the stock is currently owned by company insiders.

AON Company Profile

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Aon Plc engages in the provision of risk, health, and wealth solutions. It operates through Global Professional Services Firm segment. The Global Professional Services Firm segment involves in the provides advice and solutions to clients focused on risk, health and wealth through four principal products and services.