Aegon (NYSE:AEG) Reaches New 52-Week High – Here’s Why

Aegon NV (NYSE:AEG) hit a new 52-week high on Monday . The stock traded as high as $8.82 and last traded at $8.8050, with a volume of 528426 shares changing hands. The stock had previously closed at $8.66.

Wall Street Analysts Forecast Growth

AEG has been the subject of a number of analyst reports. BNP Paribas Exane began coverage on shares of Aegon in a report on Tuesday, April 7th. They set an “outperform” rating and a $10.00 target price for the company. Citigroup reissued a “buy” rating on shares of Aegon in a research note on Monday, May 11th. Morgan Stanley lowered Aegon from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 15th. Finally, Weiss Ratings raised Aegon from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Aegon Price Performance

The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.36. The firm has a market cap of $17.54 billion, a P/E ratio of -54.66 and a beta of 0.85. The company has a fifty day moving average price of $8.44 and a two-hundred day moving average price of $7.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AEG. 55 North Private Wealth LLC bought a new position in Aegon during the 2nd quarter worth about $177,000. Baron Wealth Management LLC boosted its position in shares of Aegon by 101.8% during the second quarter. Baron Wealth Management LLC now owns 22,678 shares of the financial services provider’s stock worth $191,000 after buying an additional 11,442 shares during the period. Eastern Bank bought a new position in shares of Aegon during the second quarter worth about $55,000. Bank of America Corp DE raised its position in Aegon by 39.7% in the 1st quarter. Bank of America Corp DE now owns 362,408 shares of the financial services provider’s stock valued at $2,631,000 after buying an additional 102,930 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Aegon by 3.2% in the 1st quarter. Royal Bank of Canada now owns 73,879 shares of the financial services provider’s stock valued at $536,000 after buying an additional 2,286 shares during the last quarter. Institutional investors and hedge funds own 4.32% of the company’s stock.

Aegon Company Profile

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.