Report
Brett Horn, CFA
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Aon Sees Margin Improvement in 1Q

Aon started the year on a fairly strong note. While top-line improvement was modest, management is making progress in reducing costs. Overall, the quarter reinforces our view that Aon can deliver modest, steady growth and attractive profitability over time. We will maintain our $132 fair value estimate and narrow moat rating.
Excluding currency impacts, acquisitions and an accounting change, revenue increased 3% year over year. The brokerage side had a strong quarter, with commercial risk and re...
Underlying
Aon Plc Class A

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Brett Horn, CFA

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