Aegon (NYSE:AEG) Rating Lowered to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Aegon from “overweight” to “neutral,” while other analysts remain mixed. The stock carries an overall “Hold” rating and an average price target of $10.00.
• Aegon shares opened at $8.38, compared with a 12-month range of $6.75 to $9.61; its 50-day and 200-day moving averages were $8.87 and $8.66, respectively.
• Institutional investors increased several positions in Aegon, but hedge funds and other institutions collectively owned only 4.32% of the company’s stock.

Aegon (NYSE:AEG - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports.

Several other research firms have also issued reports on AEG. Citigroup reaffirmed a "buy" rating on shares of Aegon in a research note on Tuesday, August 18th. Weiss Ratings downgraded Aegon from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, October 9th. Finally, Zacks Research raised shares of Aegon from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.00.

Aegon Stock Performance

Shares of NYSE AEG opened at $8.38 on Thursday. Aegon has a 12-month low of $6.75 and a 12-month high of $9.61. The firm's 50-day moving average price is $8.87 and its 200-day moving average price is $8.66.

Institutional Trading of Aegon

A number of hedge funds have recently added to or reduced their stakes in AEG. Dimensional Fund Advisors LP boosted its stake in shares of Aegon by 8.3% during the first quarter. Dimensional Fund Advisors LP now owns 11,741,711 shares of the financial services provider's stock valued at $85,233,000 after purchasing an additional 901,979 shares in the last quarter. ABC Arbitrage SA lifted its holdings in Aegon by 0.5% during the first quarter. ABC Arbitrage SA now owns 2,107,085 shares of the financial services provider's stock worth $15,297,000 after buying an additional 9,775 shares during the period. Quantinno Capital Management LP boosted its position in Aegon by 42.8% during the 1st quarter. Quantinno Capital Management LP now owns 1,735,351 shares of the financial services provider's stock valued at $12,599,000 after acquiring an additional 520,221 shares in the last quarter. Transmarket Holdings LP boosted its position in Aegon by 106.1% during the 1st quarter. Transmarket Holdings LP now owns 665,613 shares of the financial services provider's stock valued at $4,832,000 after acquiring an additional 342,704 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Aegon by 6.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 644,010 shares of the financial services provider's stock valued at $4,676,000 after acquiring an additional 41,260 shares during the period. 4.32% of the stock is owned by hedge funds and other institutional investors.

Aegon Company Profile

Aegon N.V. is an international financial services company that provides insurance, retirement, and investment products. Its offerings include life insurance, annuities, pensions, retirement plans, employee benefits, and asset management services for individuals, employers, and institutional clients.

Aegon conducts much of its business through the Transamerica brand in the United States, offering retirement solutions, life insurance, investment products, and workplace benefits. The company also has operations in selected European markets, including the United Kingdom, Spain, and Portugal, as well as international asset management activities.

Headquartered in The Hague, the Netherlands, Aegon was formed in 1983 through the merger of Dutch insurers AGO and Ennia, whose roots extend back more than 175 years.

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