Aegon (NYSE:AEG) Sees Large Volume Increase – Here’s Why

Shares of Aegon Ltd. (NYSE:AEG) saw strong trading volume on Monday . 8,874,641 shares changed hands during mid-day trading, an increase of 68% from the previous session’s volume of 5,267,637 shares.The stock last traded at $7.02 and had previously closed at $6.91.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AEG. BNP Paribas Exane upgraded Aegon from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 7th. BNP Paribas raised shares of Aegon from a “hold” rating to an “outperform” rating in a research note on Wednesday, May 7th. Finally, StockNews.com lowered shares of Aegon from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th.

Aegon Trading Up 1.6%

The company has a 50 day simple moving average of $6.40 and a 200-day simple moving average of $6.33. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of 7.31 and a beta of 0.91.

Aegon Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Tuesday, June 17th will be issued a $0.1992 dividend. This represents a dividend yield of 5.3%. 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. Aegon’s dividend payout ratio is presently 34.38%.

Aegon announced that its Board of Directors has approved a stock repurchase program on Friday, May 16th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Aegon

Several hedge funds have recently bought and sold shares of the stock. Wealthstar Advisors LLC bought a new position in Aegon during the 4th quarter worth $601,000. Savant Capital LLC increased its position in Aegon by 6.4% during the 4th quarter. Savant Capital LLC now owns 37,744 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 2,275 shares in the last quarter. OLD Mission Capital LLC increased its holdings in shares of Aegon by 450.5% during the fourth quarter. OLD Mission Capital LLC now owns 1,028,750 shares of the financial services provider’s stock worth $6,059,000 after buying an additional 841,863 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Aegon by 51.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 202,259 shares of the financial services provider’s stock valued at $1,191,000 after purchasing an additional 68,310 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Aegon during the 4th quarter worth approximately $15,397,000. 4.32% of the stock is currently owned by institutional investors and hedge funds.

About Aegon

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.