One of Aon’s (NYSE:AON) directors, Lester Knight, recently undertook a huge buy transaction worth $15.1 million. As per the SEC filing, Knight bought 50,000 shares of the company on February 7 at a weighted average price of $301.96 per share. This points to the insider’s confidence in AON’s long-term growth prospects.
Aon is a global professional services firm providing risk, retirement, and health solutions.
The total value of AON stock in Knight’s portfolio currently stands at $107.35 million. Interestingly, the insider has a stellar overall performance track record. He has achieved a 90% success rate over the past year, with an impressive average return of 21% per transaction.
Recent Updates
It is worth highlighting that the insider purchased AON’s shares a week after the company delivered mixed results for the fourth quarter of 2023. During the reported quarter, Aon’s revenues climbed 8% year-over-year while adjusted earnings remained flat. For the full year 2024, it expects a mid-single-digit revenue increase compared to the previous year.
Following the earnings release on February 2, AON received four Hold and two Sell ratings from Wall Street analysts. Among the analysts with a neutral stance, Robert Cox, CFA, from Goldman Sachs, expects Aon’s organic growth to underperform its peers. Additionally, he believes that potential benefits from the company’s restructuring program might be offset by planned growth investments.
Is AON Stock a Good Buy?
Overall, on TipRanks, Aon has a Hold consensus rating based on two Buys, six Holds, and two Sells. The average AON stock price target of $323.50 implies 3.5% upside potential from current levels. Meanwhile, AON stock has declined 6.1% over the past three months.
