Aegon (NYSE:AEG) Hits New 1-Year High – Here’s Why

Aegon NV (NYSE:AEG)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $8.81 and last traded at $8.80, with a volume of 402278 shares trading hands. The stock had previously closed at $8.61.

Analysts Set New Price Targets

AEG has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Aegon in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Aegon from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. BNP Paribas Exane initiated coverage on shares of Aegon in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $10.00 target price for the company. Weiss Ratings raised shares of Aegon from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. Finally, Morgan Stanley downgraded shares of Aegon from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.00.

Aegon Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $17.51 billion, a P/E ratio of -54.56, a P/E/G ratio of 0.75 and a beta of 0.85. The stock’s 50 day moving average is $7.80 and its two-hundred day moving average is $7.69.

Institutional Investors Weigh In On Aegon

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Aegon during the fourth quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Aegon by 321.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,511 shares of the financial services provider’s stock worth $35,000 after buying an additional 3,440 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Aegon by 299.5% in the third quarter. Parkside Financial Bank & Trust now owns 7,410 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 5,555 shares in the last quarter. Quantessence Capital LLC bought a new stake in Aegon in the fourth quarter valued at approximately $78,000. Finally, AlphaCore Capital LLC bought a new stake in Aegon in the third quarter valued at approximately $81,000. 4.32% of the stock is owned by institutional investors.

About Aegon

Aegon N.V. is a multinational financial services company headquartered in The Hague, Netherlands, specializing in life insurance, pensions and asset management. Established in 1983 through the merger of AGO and Ennia, Aegon has built a reputation for offering retirement solutions, savings products and protection plans aimed at helping customers secure their financial futures. The company operates under well-known brands, including Transamerica in the United States, and serves both individual and corporate clients.

Throughout its history, Aegon has pursued strategic acquisitions and partnerships to strengthen its market position and broaden its service offerings.