Aegon (NYSE:AEG) Sets New 1-Year High - What's Next?

Aegon Ltd. (NYSE:AEG - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $7.07 and last traded at $7.02, with a volume of 7999042 shares trading hands. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AEG shares. BNP Paribas Exane upgraded shares of Aegon from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 7th. BNP Paribas upgraded shares of Aegon from a "hold" rating to an "outperform" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered Aegon from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th.

Aegon Trading Down 0.2%

The business has a 50 day simple moving average of $6.45 and a 200-day simple moving average of $6.34. The stock has a market capitalization of $15.33 billion, a price-to-earnings ratio of 7.24 and a beta of 0.91.

Aegon Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 17th will be given a $0.1992 dividend. This is a positive change from Aegon's previous semi-annual dividend of $0.17. This represents a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 17th. Aegon's dividend payout ratio (DPR) is 34.38%.

Aegon announced that its board has initiated a stock repurchase program on Friday, May 16th that allows the company to repurchase 0 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Aegon

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC increased its holdings in Aegon by 20.0% in the 1st quarter. Acadian Asset Management LLC now owns 142,277 shares of the financial services provider's stock valued at $936,000 after purchasing an additional 23,670 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Aegon by 16.3% in the first quarter. AQR Capital Management LLC now owns 75,569 shares of the financial services provider's stock valued at $498,000 after buying an additional 10,591 shares in the last quarter. Royal Bank of Canada raised 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 valued at $507,000 after buying an additional 1,551 shares during the period. Vident Advisory LLC raised its holdings in shares of Aegon by 14.9% during the 1st quarter. Vident Advisory LLC now owns 275,222 shares of the financial services provider's stock valued at $1,814,000 after buying an additional 35,619 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in Aegon by 36.3% during the 1st quarter. Evergreen Capital Management LLC now owns 61,314 shares of the financial services provider's stock worth $404,000 after acquiring an additional 16,338 shares in the last quarter. Hedge funds and other 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.