Aegon (NYSE:AEG) Hits New 52-Week High - Still a Buy?

Key Points

• Aegon shares hit a new 52-week high, trading as high as $8.83 before closing near $8.79. The move came as the stock continued to outperform its recent trading range.
• Analyst sentiment is mixed but still constructive overall, with three Buy ratings and four Hold ratings and a consensus price target of $10.00. Morgan Stanley cut the stock to equal weight, while Citigroup reiterated Buy and BNP Paribas Exane set an Outperform rating.
• Institutional investors have been active in the name, with several funds sharply increasing positions. Hedge funds and other institutions now own about 4.32% of Aegon’s shares.

Aegon NV (NYSE:AEG - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $8.83 and last traded at $8.7850, with a volume of 3583910 shares. The stock had previously closed at $8.80.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley lowered shares of Aegon from an "overweight" rating to an "equal weight" rating in a research report on Friday, May 15th. Citigroup reiterated a "buy" rating on shares of Aegon in a research report on Monday, May 11th. BNP Paribas Exane started coverage on Aegon in a research note on Tuesday, April 7th. They set an "outperform" rating and a $10.00 price objective for the company. Finally, Weiss Ratings upgraded Aegon from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $10.00.

Aegon Stock Down 0.1%

The business's 50 day moving average is $8.48 and its 200 day moving average is $7.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market cap of $17.64 billion, a price-to-earnings ratio of -55.03 and a beta of 0.85.

Institutional Trading of Aegon

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings 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 valued at $44,667,000 after buying an additional 4,650,272 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Aegon by 27.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,869,198 shares of the financial services provider's stock worth $78,853,000 after acquiring an additional 2,127,932 shares during the period. Tower Research Capital LLC TRC boosted its position in Aegon by 46,430.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,207,468 shares of the financial services provider's stock worth $9,648,000 after acquiring an additional 1,204,873 shares during the period. Marshall Wace LLP acquired a new stake in Aegon during the 2nd quarter worth about $8,022,000. Finally, Ameriprise Financial Inc. grew its stake in Aegon by 923.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 997,035 shares of the financial services provider's stock valued at $7,225,000 after acquiring an additional 899,662 shares in the last quarter. Hedge funds and other institutional investors own 4.32% of the company's stock.

Aegon Company Profile

Aegon N.V. is a multinational financial services company headquartered in The Hague, Netherlands, specializing in life insurance, pensions and asset management. Established in 1983 through the merger of AGO and Ennia, Aegon has built a reputation for offering retirement solutions, savings products and protection plans aimed at helping customers secure their financial futures. The company operates under well-known brands, including Transamerica in the United States, and serves both individual and corporate clients.

Throughout its history, Aegon has pursued strategic acquisitions and partnerships to strengthen its market position and broaden its service offerings.

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