NEW YORK ( TheStreet) - Aon ( AON) was the worst-performing stock in the S&P 500 on Friday morning. The S&P 500 was down more than 15 points, or about 1.1%, to 1,376.20.
Shares of Aon fell 5.04% to $48.76. The insurance company reported first-quarter earnings Friday of $238 million, or 71 cents a share, compared to $246 million, or 71 cents a share, a year earlier. Adjusted earnings fell to 98 cents a share from 99 cents; analysts were expecting earnings of $1.06 a share. Aon trades at an estimated price-to-earnings ratio for next year of 9.95 times; the average for insurance brokerages is 11.85. For comparison, Willis Group ( WSH) has a forward P/E of 11.69. Twelve of the 20 analysts who cover Aon rated it buy. Seven analysts gave the stock a hold rating and one rated it sell. The stock has risen 4.17% year to date. -- Written by Alexandra Zendrian >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.