Aegon (NYSE:AEG) Sets New 52-Week High - Here's What Happened

Aegon Ltd. (NYSE:AEG - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $7.09 and last traded at $7.08, with a volume of 1627383 shares changing hands. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AEG shares. BNP Paribas Exane raised shares of Aegon from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 7th. BNP Paribas raised shares of Aegon from a "hold" rating to an "outperform" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Aegon from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th.

Aegon Price Performance

The stock's 50-day simple moving average is $6.50 and its 200 day simple moving average is $6.36. The stock has a market capitalization of $15.87 billion, a P/E ratio of 7.50 and a beta of 0.91.

Aegon Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.1992 per share. This represents a yield of 5.3%. This is a boost from Aegon's previous semi-annual dividend of $0.17. The ex-dividend date of this dividend is Tuesday, June 17th. Aegon's payout ratio is 34.38%.

Aegon declared that its board has approved a share buyback program on Friday, May 16th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Aegon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEG. Bessemer Group Inc. lifted its holdings in shares of Aegon by 526.8% during the first 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 in the last quarter. NewEdge Advisors LLC raised its stake in Aegon by 1,136.2% during the fourth quarter. NewEdge Advisors LLC now owns 4,846 shares of the financial services provider's stock worth $29,000 after acquiring an additional 4,454 shares in the last quarter. SVB Wealth LLC acquired a new position in Aegon during the first quarter worth about $42,000. Smartleaf Asset Management LLC increased its stake in shares of Aegon by 70.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,184 shares of the financial services provider's stock valued at $54,000 after buying an additional 3,802 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of Aegon in the first quarter valued at approximately $61,000. 4.32% of the stock is owned by institutional investors.

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.