Aegon (NYSE:AEG) Sets New 1-Year High - Time to Buy?

Key Points

• Aegon NV (NYSE:AEG) shares reached a new 52-week high of $7.50, reflecting strong trading activity with nearly 2.9 million shares exchanged.
• The company has received multiple upgrades from analysts, with BNP Paribas and Berenberg Bank boosting Aegon’s rating to "outperform" and "strong-buy" respectively.
• Aegon has authorized a stock repurchase program, indicating leadership believes the stock is undervalued, which often reflects positively on shareholder value.

Aegon NV (NYSE:AEG - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $7.50 and last traded at $7.45, with a volume of 2914674 shares trading hands. The stock had previously closed at $7.44.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BNP Paribas raised shares of Aegon from a "hold" rating to an "outperform" rating in a research report on Wednesday, May 7th. Berenberg Bank raised shares of Aegon to a "strong-buy" rating in a research report on Thursday, May 29th. BNP Paribas Exane raised shares of Aegon from a "neutral" rating to an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Aegon from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy".

Aegon Stock Performance

The business's 50-day moving average price is $7.12 and its 200 day moving average price is $6.72. The company has a market cap of $15.07 billion, a P/E ratio of 7.82, a P/E/G ratio of 0.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.06 and a current ratio of 0.06.

Aegon declared that its Board of Directors has approved a share repurchase plan on Friday, May 16th that permits the company to repurchase 0 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AEG. NewEdge Advisors LLC boosted its holdings in shares of Aegon by 1,136.2% during the 4th quarter. NewEdge Advisors LLC now owns 4,846 shares of the financial services provider's stock worth $29,000 after buying an additional 4,454 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Aegon by 526.8% during the 1st quarter. Bessemer Group Inc. now owns 4,325 shares of the financial services provider's stock worth $29,000 after buying an additional 3,635 shares during the period. SVB Wealth LLC bought a new stake in shares of Aegon during the 1st quarter worth about $42,000. Deutsche Bank AG bought a new stake in shares of Aegon during the 1st quarter worth about $61,000. Finally, Waverly Advisors LLC bought a new stake in shares of Aegon during the 4th quarter worth about $65,000. Institutional investors own 4.32% of the company's stock.

Aegon Company Profile

Aegon Ltd. provides insurance, pensions, retirement, and asset management services in the United States, the Netherlands, the United Kingdom, and internationally. The company offers life, accident, property and casualty, and health insurance; annuities, retirement plans, mutual funds, and stable value solutions; residential mortgage and digital baking services; and retail and institutional investment management solutions and retirement savings vehicles and strategies.