Aegon (NYSE:AEG) Reaches New 1-Year High – Here’s What Happened

Aegon NV (NYSE:AEG)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $9.23 and last traded at $9.23, with a volume of 413258 shares changing hands. The stock had previously closed at $9.13.

Analyst Upgrades and Downgrades

Several research firms recently commented on AEG. BNP Paribas Exane began coverage on Aegon in a report on Tuesday, April 7th. They issued an “outperform” rating and a $10.00 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of Aegon in a report on Monday, May 11th. Morgan Stanley lowered shares of Aegon from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 15th. Finally, Weiss Ratings raised shares of Aegon from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

Aegon Price Performance

The firm has a 50-day simple moving average of $8.65 and a 200-day simple moving average of $8.00. The firm has a market capitalization of $18.41 billion, a PE ratio of -57.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.07 and a quick ratio of 0.07.

Hedge Funds Weigh In On Aegon

A number of institutional investors and hedge funds have recently made changes to their positions in AEG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Aegon during the fourth quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd raised its position in Aegon by 321.2% in 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 acquiring an additional 3,440 shares during the period. Eastern Bank bought a new position in Aegon in the second quarter worth approximately $55,000. Quantessence Capital LLC purchased a new position in shares of Aegon during the 4th quarter worth $78,000. Finally, Baron Wealth Management LLC purchased a new position in shares of Aegon during the 1st quarter worth $82,000. Hedge funds and other institutional investors own 4.32% of the company’s stock.

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.