Aegon NV (NYSE:AEG) Stock Short Interest Declines 43.3%

Key Points

• Aegon’s short interest fell 43.3% to 2.75 million shares as of October 15, representing 0.1% of shares outstanding and a days-to-cover ratio of 0.4.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $10, although JPMorgan downgraded the stock to “Neutral.”
• Aegon shares recently traded at $8.18, below their 50-day moving average, while the company’s latest dividend declined slightly to $0.2455 per share.

Aegon NV (NYSE:AEG - Get Free Report) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 2,747,638 shares, a decrease of 43.3% from the September 30th total of 4,845,750 shares. Based on an average daily trading volume, of 7,261,224 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company's shares are sold short.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Aegon from an "overweight" rating to a "neutral" rating in a research note on Thursday, October 22nd. Weiss Ratings upgraded Aegon from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday. Zacks Research upgraded Aegon from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Citigroup reissued a "buy" rating on shares of Aegon in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

Institutional Trading of Aegon

Large investors have recently made changes to their positions in the company. Provenance Wealth Advisors LLC purchased a new stake in shares of Aegon in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of Aegon in the third quarter valued at approximately $31,000. Eastern Bank purchased a new position in shares of Aegon during the 2nd quarter worth approximately $55,000. Sanctuary Advisors LLC purchased a new position in Aegon during the first quarter worth $82,000. Finally, Keebeck Wealth Management acquired a new position in Aegon in the 1st quarter valued at about $84,000. 4.32% of the stock is currently owned by hedge funds and other institutional investors.

Aegon Price Performance

AEG stock traded down $0.12 during trading on Friday, reaching $8.18. 4,391,786 shares of the company traded hands, compared to its average volume of 7,194,010. The business has a 50 day simple moving average of $8.72 and a 200 day simple moving average of $8.30. Aegon has a 12 month low of $6.75 and a 12 month high of $9.61.

Aegon Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd were paid a $0.2455 dividend. This is a negative change from Aegon's previous dividend of $0.2469. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a yield of 534.0%.

About Aegon

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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