Aegon (NYSE:AEG) Hits New 12-Month High After Dividend Announcement

Key Points

• Aegon NV shares reached a new 52-week high, trading at $8.10, with a significant volume of over 11 million shares exchanged.
• Several analysts have made notable adjustments to Aegon's stock ratings, with BNP Paribas upgrading it to an "outperform" and Berenberg Bank giving it a "strong-buy" recommendation.
• The company has approved a stock buyback plan, signaling confidence from the board that the stock may be undervalued based on its current performance.

Shares of Aegon NV (NYSE:AEG - Get Free Report) hit a new 52-week high during trading on Friday following a dividend announcement from the company. The company traded as high as $8.10 and last traded at $8.03, with a volume of 11262264 shares. The stock had previously closed at $7.46.

The newly announced dividend which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.1876 dividend. This represents a dividend yield of 420.0%. The ex-dividend date of this dividend is Thursday, September 4th. Aegon's payout ratio is currently 38.54%.

Analyst Upgrades and Downgrades

AEG has been the topic of a number of analyst reports. Berenberg Bank raised Aegon to a "strong-buy" rating in a research report on Thursday, May 29th. BNP Paribas Exane raised Aegon from a "neutral" rating to an "outperform" rating in a research report on Wednesday, May 7th. BNP Paribas raised Aegon from a "hold" rating to an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut Aegon from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy".

Aegon Stock Performance

The firm has a market capitalization of $15.68 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.44. The business's 50 day simple moving average is $7.24 and its two-hundred day simple moving average is $6.79.

Aegon announced that its board has approved a stock repurchase program on Friday, May 16th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its holdings in shares of Aegon by 1,136.2% in the 4th quarter. NewEdge Advisors LLC now owns 4,846 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 4,454 shares during the last quarter. Bessemer Group Inc. raised its position in Aegon by 526.8% in the 1st quarter. Bessemer Group Inc. now owns 4,325 shares of the financial services provider's stock worth $29,000 after purchasing an additional 3,635 shares during the period. SVB Wealth LLC purchased a new stake in Aegon in the 1st quarter worth about $42,000. Deutsche Bank AG purchased a new stake in Aegon in the 1st quarter worth about $61,000. Finally, Waverly Advisors LLC purchased a new stake in Aegon in 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.