Aegon (NYSE:AEG) Stock Breaks Below 200 Day Moving Average – Here’s Why

Aegon NV (NYSE:AEG) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $8.32 and traded as low as $8.29. Aegon shares last traded at $8.3050, with a volume of 2,483,961 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on AEG. Zacks Research upgraded shares of Aegon from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Citigroup reaffirmed a “buy” rating on shares of Aegon in a research report on Tuesday, August 18th. Weiss Ratings upgraded shares of Aegon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. lowered shares of Aegon from an “overweight” rating to a “neutral” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Aegon Stock Performance

The company’s 50 day moving average price is $8.64 and its 200 day moving average price is $8.32.

Aegon Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd were issued a $0.2455 dividend. This is a drop from Aegon’s previous dividend of $0.2469. This represents a dividend yield of 534.0%. The ex-dividend date was Thursday, September 3rd.

Institutional Trading of Aegon

Several hedge funds have recently modified their holdings of AEG. Dimensional Fund Advisors LP lifted its stake in shares of Aegon by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 11,741,711 shares of the financial services provider’s stock worth $85,233,000 after buying an additional 901,979 shares in the last quarter. ABC Arbitrage SA lifted its stake in shares of Aegon by 0.5% in the 1st quarter. ABC Arbitrage SA now owns 2,107,085 shares of the financial services provider’s stock valued at $15,297,000 after purchasing an additional 9,775 shares during the period. Quantinno Capital Management LP increased its stake in shares of Aegon by 42.8% during the first quarter. Quantinno Capital Management LP now owns 1,735,351 shares of the financial services provider’s stock worth $12,599,000 after purchasing an additional 520,221 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Aegon by 2.4% during the third quarter. Oppenheimer & Co. Inc. now owns 619,982 shares of the financial services provider’s stock worth $5,350,000 after buying an additional 14,374 shares during the period. Finally, Transmarket Holdings LP increased its holdings in Aegon by 106.1% in the 1st quarter. Transmarket Holdings LP now owns 665,613 shares of the financial services provider’s stock worth $4,832,000 after acquiring an additional 342,704 shares during the last quarter. 4.32% of the stock is owned by hedge funds and other institutional investors.

About Aegon

Aegon N.V. is an international financial services company that provides insurance, retirement, and investment products. Its offerings include life insurance, annuities, pensions, retirement plans, employee benefits, and asset management services for individuals, employers, and institutional clients.

Aegon conducts much of its business through the Transamerica brand in the United States, offering retirement solutions, life insurance, investment products, and workplace benefits. The company also has operations in selected European markets, including the United Kingdom, Spain, and Portugal, as well as international asset management activities.

Headquartered in The Hague, the Netherlands, Aegon was formed in 1983 through the merger of Dutch insurers AGO and Ennia, whose roots extend back more than 175 years.