Aegon (NYSE:AEG) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Key Points

• Aegon reported quarterly EPS of $0.23, missing the $0.35 consensus estimate by $0.12. Revenue totaled $3.52 billion, well below analyst expectations of $7.39 billion.
• Aegon shares fell 1.0% to open at $9.31, while analysts maintained a consensus rating of “Hold” and an average price target of $10.00.
• Institutional investors increased their positions in Aegon, though hedge funds and other institutions collectively owned just 4.32% of the company’s stock.

Aegon (NYSE:AEG - Get Free Report) released its quarterly earnings results on Thursday. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12), reports. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $7.39 billion.

Aegon Trading Down 1.0%

NYSE AEG opened at $9.31 on Thursday. Aegon has a 52 week low of $6.75 and a 52 week high of $9.61. The firm has a 50 day moving average of $8.96 and a two-hundred day moving average of $8.20. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $18.69 billion, a PE ratio of -58.22 and a beta of 0.84.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research cut Aegon from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Morgan Stanley lowered shares of Aegon from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 15th. Citigroup reissued a "buy" rating on shares of Aegon in a research report on Tuesday. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of Aegon in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $10.00.

Institutional Investors Weigh In On Aegon

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Aegon by 2.1% in the first 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 last quarter. AQR Capital Management LLC raised its stake in 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. Acadian Asset Management LLC lifted its holdings in Aegon by 20.0% during the 1st quarter. Acadian Asset Management LLC now owns 142,277 shares of the financial services provider's stock worth $936,000 after buying an additional 23,670 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Aegon during the 2nd quarter worth about $165,000. Finally, Rhumbline Advisers boosted its position in shares of Aegon by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 92,294 shares of the financial services provider's stock worth $668,000 after acquiring an additional 2,921 shares in the last quarter. 4.32% of the stock is owned by hedge funds and other institutional investors.

About Aegon

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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