Bank of America Corp DE Sells 556,157 Shares of Aegon Ltd. (NYSE:AEG)

Bank of America Corp DE cut its holdings in shares of Aegon Ltd. (NYSE:AEG - Free Report) by 64.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,612 shares of the financial services provider's stock after selling 556,157 shares during the quarter. Bank of America Corp DE's holdings in Aegon were worth $1,782,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC increased its position in shares of Aegon by 1.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 145,663 shares of the financial services provider's stock valued at $858,000 after purchasing an additional 1,779 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Aegon by 13.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 17,757 shares of the financial services provider's stock valued at $105,000 after purchasing an additional 2,142 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Aegon by 12.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 20,015 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 2,170 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Aegon by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 76,168 shares of the financial services provider's stock valued at $449,000 after purchasing an additional 2,241 shares during the last quarter. Finally, Savant Capital LLC increased its position in shares of Aegon by 6.4% during the 4th quarter. Savant Capital LLC now owns 37,744 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 2,275 shares during the last quarter. 4.32% of the stock is owned by hedge funds and other institutional investors.

Aegon Stock Up 1.0%

AEG traded up $0.07 during trading hours on Friday, hitting $7.26. The stock had a trading volume of 9,939,900 shares, compared to its average volume of 5,856,210. The company's fifty day simple moving average is $6.55 and its 200 day simple moving average is $6.39. Aegon Ltd. has a 1 year low of $5.42 and a 1 year high of $7.32. The stock has a market cap of $16.00 billion, a PE ratio of 7.56 and a beta of 0.92.

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

Aegon Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 17th will be paid a $0.1992 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a yield of 5.3%. This is an increase from Aegon's previous semi-annual dividend of $0.17. Aegon's dividend payout ratio (DPR) is currently 34.38%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Aegon from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. BNP Paribas Exane raised 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 report on Wednesday, May 7th. Finally, Berenberg Bank raised Aegon to a "strong-buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy".

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.