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

Shares of Aegon NV (NYSE:AEG - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $7.36 and last traded at $7.35, with a volume of 5910694 shares changing hands. The stock had previously closed at $7.19.

Wall Street Analysts Forecast Growth

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

Aegon Stock Down 1.6%

The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.50. The firm's 50 day simple moving average is $7.08 and its 200-day simple moving average is $6.63. The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 0.28 and a beta of 0.91.

Aegon announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 16th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Aegon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its stake in shares of Aegon by 6.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,576 shares of the financial services provider's stock worth $171,000 after purchasing an additional 1,440 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Aegon by 2.1% during the 1st quarter. Royal Bank of Canada now owns 77,076 shares of the financial services provider's stock worth $507,000 after buying an additional 1,551 shares during the period. Sei Investments Co. boosted its holdings in shares of Aegon by 0.4% during the 1st quarter. Sei Investments Co. now owns 487,913 shares of the financial services provider's stock worth $3,215,000 after buying an additional 1,772 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Aegon by 1.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 145,663 shares of the financial services provider's stock worth $858,000 after buying an additional 1,779 shares during the period. Finally, Wealthstar Advisors LLC boosted its holdings in shares of Aegon by 2.1% during the 2nd quarter. Wealthstar Advisors LLC now owns 96,994 shares of the financial services provider's stock worth $702,000 after buying an additional 1,955 shares during the period. 4.32% of the stock is currently owned by institutional investors and hedge funds.

About Aegon

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.