Bank of America Corp DE trimmed its holdings in shares of Aegon Ltd. (NYSE:AEG - Free Report) by 64.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 302,612 shares of the financial services provider's stock after selling 556,157 shares during the period. Bank of America Corp DE's holdings in Aegon were worth $1,782,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Wealthstar Advisors LLC purchased a new position in Aegon in the 4th quarter valued at approximately $601,000. OLD Mission Capital LLC increased its stake in Aegon by 450.5% in the 4th quarter. OLD Mission Capital LLC now owns 1,028,750 shares of the financial services provider's stock valued at $6,059,000 after purchasing an additional 841,863 shares in the last quarter. Savant Capital LLC increased its stake in Aegon by 6.4% in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Aegon in the 4th quarter valued at approximately $15,397,000. Finally, ABC Arbitrage SA purchased a new position in Aegon in the 4th quarter valued at approximately $3,394,000. 4.32% of the stock is owned by hedge funds and other institutional investors.
Aegon Stock Up 0.8%
Shares of AEG stock traded up $0.06 during mid-day trading on Thursday, hitting $7.20. 13,179,043 shares of the company's stock were exchanged, compared to its average volume of 5,802,902. Aegon Ltd. has a fifty-two week low of $5.42 and a fifty-two week high of $7.32. The stock has a 50-day simple moving average of $6.53 and a two-hundred day simple moving average of $6.38. The stock has a market cap of $15.86 billion, a price-to-earnings ratio of 7.49 and a beta of 0.91.
Aegon announced that its board has initiated a stock repurchase program on Friday, May 16th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Aegon Increases Dividend
The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.1992 per share. This is a boost from Aegon's previous semi-annual dividend of $0.17. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a dividend yield of 5.3%. Aegon's dividend payout ratio (DPR) is 34.38%.
Analysts Set New Price Targets
A number of brokerages have commented on AEG. Berenberg Bank upgraded Aegon to a "strong-buy" rating in a report on Thursday, May 29th. BNP Paribas upgraded Aegon from a "hold" rating to an "outperform" rating in a report on Wednesday, May 7th. Wall Street Zen cut Aegon from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, BNP Paribas Exane upgraded Aegon from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy".
View Our Latest Stock Analysis on AEG
Aegon Profile
(
Free Report)
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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