Aon plc downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Alex Scott downgraded Aon plc (AON) to Equal Weight from Overweight with a price target of $379, down from $420. The firm reduced organic growth estimates “across the board” for the insurance brokers, saying property and casualty pricing is below expectations. “Persistent signs” of softening across the property and casualty markets along with weaker pricing data “signal a turning point,” the analyst tells investors in a research note. Barclays thinks Aon’s better growth relative to peers is now priced into the shares.