Aegon (NYSE:AEG) Sets New 12-Month High - Here's What Happened

Key Points

• Aegon NV's stock reached a new 12-month high of $7.39, with 936,470 shares traded on Friday, closing at $7.35.
• Wall Street analysts have issued various ratings for Aegon, with the current consensus rating being "Buy" based on recent upgrades and downgrades.
• The company has authorized a share buyback program, indicating confidence in its stock value and commitment to returning capital to shareholders.

Aegon NV (NYSE:AEG - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The company traded as high as $7.39 and last traded at $7.35, with a volume of 936470 shares traded. The stock had previously closed at $7.28.

Wall Street Analysts Forecast Growth

AEG has been the topic of a number of analyst reports. BNP Paribas upgraded shares of Aegon from a "hold" rating to an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of Aegon from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Berenberg Bank raised shares of Aegon to a "strong-buy" rating in a report on Thursday, May 29th. Finally, BNP Paribas Exane raised shares of Aegon from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

Aegon Price Performance

The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average is $7.10 and its 200-day moving average is $6.68. The company has a market cap of $14.80 billion, a PE ratio of 7.68, a PEG ratio of 0.28 and a beta of 0.94.

Aegon announced that its Board of Directors has authorized a share buyback program on Friday, May 16th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Aegon

A number of hedge funds and other institutional investors have recently bought and sold shares of AEG. Acadian Asset Management LLC grew its holdings in Aegon by 2,348.0% in the second quarter. Acadian Asset Management LLC now owns 3,482,943 shares of the financial services provider's stock worth $25,200,000 after purchasing an additional 3,340,666 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Aegon during the fourth quarter valued at approximately $15,397,000. BNP Paribas Financial Markets grew its holdings in shares of Aegon by 517.6% during 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 last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Aegon during the fourth quarter valued at approximately $4,733,000. Finally, Northern Trust Corp grew its holdings in shares of Aegon by 91.7% during the fourth quarter. Northern Trust Corp now owns 1,419,940 shares of the financial services provider's stock valued at $8,363,000 after buying an additional 679,126 shares during 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.

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