Arrowpoint Investment Partners Singapore Pte. Ltd. Buys Shares of 277,586 Aegon Ltd. (NYSE:AEG)

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Aegon Ltd. (NYSE:AEG) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 277,586 shares of the financial services provider’s stock, valued at approximately $1,635,000. Aegon accounts for about 0.3% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s investment portfolio, making the stock its 24th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Aegon by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,413,607 shares of the financial services provider’s stock valued at $31,886,000 after purchasing an additional 298,679 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Aegon in the 4th quarter valued at about $15,397,000. Voloridge Investment Management LLC grew its holdings in Aegon by 27.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,895,842 shares of the financial services provider’s stock valued at $11,167,000 after buying an additional 409,694 shares during the period. Northern Trust Corp increased its stake in shares of Aegon by 91.7% during the 4th quarter. Northern Trust Corp now owns 1,419,940 shares of the financial services provider’s stock valued at $8,363,000 after acquiring an additional 679,126 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Aegon by 37.8% during the 4th quarter. Marshall Wace LLP now owns 1,410,756 shares of the financial services provider’s stock worth $8,309,000 after acquiring an additional 387,085 shares during the period. 4.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Aegon from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. BNP Paribas raised shares of Aegon from a “hold” rating to an “outperform” rating in a research note on Wednesday, May 7th. Finally, BNP Paribas Exane upgraded Aegon from a “neutral” rating to an “outperform” rating in a report on Wednesday, May 7th.

Aegon Price Performance

Aegon stock opened at $7.02 on Wednesday. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 7.31 and a beta of 0.91. Aegon Ltd. has a 12 month low of $5.42 and a 12 month high of $7.09. The stock’s 50-day moving average is $6.43 and its 200-day moving average is $6.34.

Aegon Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 17th will be given a dividend of $0.1992 per share. This represents a yield of 5.3%. The ex-dividend date is Tuesday, June 17th. This is an increase from Aegon’s previous semi-annual dividend of $0.17. Aegon’s dividend payout ratio is 34.38%.

Aegon declared that its Board of Directors has authorized a share repurchase plan on Friday, May 16th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Aegon Profile

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.