NEW YORK (TheStreet) -- Shares of AON Plc
(AON) are down -3.85% to $87.47 as the world's second biggest insurance broker by market value, fell the most since April after revenue missed estimates as reinsurance sales dropped, Bloomberg reports.
Revenue was $2.92 billion, compared with analysts' estimates of $2.96 billion in a Bloomberg survey. Reinsurance commissions and fees fell 4.3% to $360 million, the company said today
The company's net income was $304 million, or $1.01 per share, compared with $241 million, or 76 cents per share a year earlier.
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TheStreet Ratings team rates AON PLC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AON PLC (AON) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
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