Aegon (NYSE:AEG) Shares Gap Up - Time to Buy?

Aegon NV (NYSE:AEG - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $7.02, but opened at $7.30. Aegon shares last traded at $7.24, with a volume of 2,586,631 shares.

Analysts Set New Price Targets

AEG has been the subject of several recent research reports. Berenberg Bank upgraded Aegon to a "strong-buy" rating in a research report on Thursday, May 29th. BNP Paribas Exane upgraded shares of Aegon from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 7th. BNP Paribas raised Aegon from a "hold" rating to an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut Aegon from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy".

Aegon Stock Performance

The business has a 50-day moving average of $6.82 and a 200 day moving average of $6.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $15.95 billion, a PE ratio of 7.54, a PEG ratio of 0.26 and a beta of 0.92.

Aegon Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.1992 per share. This represents a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 17th. This is a boost from Aegon's previous semi-annual dividend of $0.17. Aegon's dividend payout ratio (DPR) is currently 38.54%.

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

Institutional Investors Weigh In On Aegon

Several hedge funds and other institutional investors have recently made changes to their positions in AEG. Acadian Asset Management LLC increased 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 purchasing an additional 23,670 shares during the period. AQR Capital Management LLC boosted its stake in shares of Aegon by 16.3% during the first quarter. AQR Capital Management LLC now owns 75,569 shares of the financial services provider's stock valued at $498,000 after purchasing an additional 10,591 shares in the last quarter. Royal Bank of Canada increased its holdings in Aegon by 2.1% during 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 period. Vident Advisory LLC increased its holdings in Aegon by 14.9% during the first 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 raised its stake in Aegon by 36.3% in the first quarter. Evergreen Capital Management LLC now owns 61,314 shares of the financial services provider's stock worth $404,000 after buying an additional 16,338 shares in the last quarter. Hedge funds and other institutional investors 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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