Aegon (NYSE:AEG) Hits New 52-Week High - What's Next?

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

Wall Street Analyst Weigh In

AEG has been the subject of a number of recent research reports. BNP Paribas raised Aegon from a "hold" rating to an "outperform" rating in a report on Wednesday, May 7th. StockNews.com downgraded Aegon from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, BNP Paribas Exane upgraded shares of Aegon from a "neutral" rating to an "outperform" rating in a research report on Wednesday, May 7th.

Aegon Stock Up 0.1%

The company has a market cap of $15.48 billion, a P/E ratio of 7.31 and a beta of 0.91. The firm's 50 day moving average is $6.43 and its two-hundred day moving average is $6.34.

Aegon Increases Dividend

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

Aegon announced that its Board of Directors has approved a stock buyback plan on Friday, May 16th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Aegon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Aegon in the 4th quarter valued at $15,397,000. BNP Paribas Financial Markets lifted its holdings in Aegon by 517.6% in the fourth quarter. BNP Paribas Financial Markets now owns 1,220,786 shares of the financial services provider's stock valued at $7,190,000 after buying an additional 1,023,116 shares during the period. OLD Mission Capital LLC boosted its position in Aegon by 450.5% during the fourth quarter. OLD Mission Capital LLC now owns 1,028,750 shares of the financial services provider's stock valued at $6,059,000 after acquiring an additional 841,863 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Aegon during the 4th quarter worth about $4,733,000. Finally, Northern Trust Corp raised its position in shares of Aegon by 91.7% in the 4th quarter. Northern Trust Corp now owns 1,419,940 shares of the financial services provider's stock worth $8,363,000 after acquiring an additional 679,126 shares in the last quarter. 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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