Aegon (NYSE:AEG) Hits New 12-Month High - Here's Why

Key Points

• Aegon NV's shares reached a new 52-week high of $8.12, closing at $8.13 with a trading volume of 492,587 shares.
• Several analysts have upgraded Aegon's rating, with Berenberg Bank raising it to "strong-buy" and the consensus rating now being "buy".
• The company has announced a semi-annual dividend of $0.1876, reflecting a substantial yield of 584.0%, although the payout ratio is 39.58%.

Shares of Aegon NV (NYSE:AEG - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $8.12 and last traded at $8.13, with a volume of 492587 shares. The stock had previously closed at $7.91.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Berenberg Bank raised Aegon to a "strong-buy" rating in a research report on Thursday, May 29th. Wall Street Zen raised Aegon from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, Aegon has a consensus rating of "Buy".

Aegon Trading Up 3.0%

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.28 and a beta of 0.99. The business has a 50 day simple moving average of $7.48 and a 200 day simple moving average of $6.96.

Aegon Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.1876 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a yield of 584.0%. Aegon's payout ratio is currently 39.58%.

Hedge Funds Weigh In On Aegon

A number of institutional investors and hedge funds have recently bought and sold shares of AEG. Arrowstreet Capital Limited Partnership boosted its stake in Aegon by 104.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 21,006,803 shares of the financial services provider's stock worth $152,089,000 after purchasing an additional 10,732,972 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Aegon by 306.1% during the second quarter. BNP Paribas Financial Markets now owns 6,169,541 shares of the financial services provider's stock worth $44,667,000 after acquiring an additional 4,650,272 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Aegon by 2,348.0% during the second quarter. Acadian Asset Management LLC now owns 3,482,943 shares of the financial services provider's stock worth $25,200,000 after acquiring an additional 3,340,666 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Aegon by 1,073.4% during the second quarter. JPMorgan Chase & Co. now owns 1,623,496 shares of the financial services provider's stock worth $11,754,000 after acquiring an additional 1,485,135 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Aegon during the second quarter worth $8,022,000. Institutional investors and hedge funds own 4.32% of the company's stock.

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.

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