Aegon NV (AEG) Shares Gap Up on Strong Earnings
Shares of Aegon NV (NYSE:AEG) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.86, but opened at $5.94. Aegon NV shares last traded at $5.87, with a volume of 1,944,506 shares.
The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.13. Aegon NV had a return on equity of 6.30% and a net margin of 2.38%. The company had revenue of $9.24 billion during the quarter.
The business also recently declared a dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 21st will be given a $0.1522 dividend. The ex-dividend date is Thursday, August 17th. This is a boost from Aegon NV’s previous dividend of $0.12. Aegon NV’s payout ratio is currently 60.00%.
AEG has been the subject of a number of analyst reports. Zacks Investment Research raised Aegon NV from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research report on Thursday, August 3rd. BidaskClub raised Aegon NV from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, TheStreet cut Aegon NV from a “b-” rating to a “c” rating in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.63.
Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in Aegon NV by 3.7% in the second quarter. PNC Financial Services Group Inc. now owns 71,018 shares of the financial services provider’s stock valued at $362,000 after buying an additional 2,513 shares in the last quarter. Strategic Advisors LLC boosted its position in Aegon NV by 2.2% in the second quarter. Strategic Advisors LLC now owns 46,150 shares of the financial services provider’s stock valued at $1,191,000 after buying an additional 1,000 shares in the last quarter. Bfsg LLC acquired a new position in Aegon NV during the second quarter valued at $228,000. CIBC World Markets Inc. boosted its position in Aegon NV by 40.1% in the second quarter. CIBC World Markets Inc. now owns 961,636 shares of the financial services provider’s stock valued at $4,914,000 after buying an additional 275,244 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in Aegon NV by 0.3% in the second quarter. Private Advisor Group LLC now owns 34,398 shares of the financial services provider’s stock valued at $188,000 after buying an additional 88 shares in the last quarter. 10.33% of the stock is owned by institutional investors and hedge funds.
The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 18.87 and a beta of 1.39. The firm has a 50-day moving average of $5.39 and a 200-day moving average of $5.29.
Aegon NV Company Profile
Aegon N.V. (Aegon) is an international life insurance, pensions and asset management company. The Company’s segments include the Americas, which includes the United States, Mexico and Brazil; the Netherlands; the United Kingdom; Central & Eastern Europe; Spain & Portugal; Asia, and Aegon Asset Management.
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