Aegon (NYSE:AEG) Reaches New 12-Month High - Still a Buy?

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 reached a new 52-week high on Friday . The company traded as high as $7.39 and last traded at $7.35, with a volume of 936470 shares changing hands. The stock had previously closed at $7.28.

Analysts Set New Price Targets

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

Aegon Trading Up 0.6%

The company has a market cap of $15.02 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 0.28 and a beta of 0.94. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average price is $7.11 and its 200 day moving average price is $6.70.

Aegon announced that its Board of Directors has approved a stock repurchase program on Friday, May 16th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Aegon

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in shares of Aegon by 1,136.2% during the 4th quarter. NewEdge Advisors LLC now owns 4,846 shares of the financial services provider's stock worth $29,000 after buying an additional 4,454 shares during the period. Bessemer Group Inc. grew its position in Aegon by 526.8% in the 1st quarter. Bessemer Group Inc. now owns 4,325 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 3,635 shares during the period. SVB Wealth LLC acquired a new stake in Aegon in the 1st quarter valued at $42,000. Deutsche Bank AG acquired a new stake in Aegon in the 1st quarter valued at $61,000. Finally, Waverly Advisors LLC acquired a new stake in Aegon in the 4th quarter valued at $65,000. 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.