Aegon NV (AEG) Board Initiates Stock Repurchase Plan
Aegon NV (NYSE:AEG) announced that its Board of Directors has authorized a stock buyback program, which permits the company to buyback 51,860,000 outstanding shares on Thursday, September 28th, EventVestor reports. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
A number of analysts have recently issued reports on AEG shares. Zacks Investment Research upgraded Aegon NV from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Sanford C. Bernstein assumed coverage on Aegon NV in a research report on Thursday, September 14th. They issued a “market perform” rating and a $4.60 target price for the company. Societe Generale cut Aegon NV from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. TheStreet upgraded shares of Aegon NV from a “c+” rating to a “b” rating in a research note on Friday, August 25th. Finally, BidaskClub upgraded shares of Aegon NV from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $5.28.
Shares of Aegon NV (NYSE AEG) opened at 5.79 on Monday. The firm’s 50-day moving average price is $5.74 and its 200-day moving average price is $5.34. Aegon NV has a 12-month low of $3.80 and a 12-month high of $6.06. The firm has a market capitalization of $11.84 billion, a P/E ratio of 6.78 and a beta of 1.35.
Aegon NV (NYSE:AEG) last announced its earnings results on Thursday, August 10th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.13. Aegon NV had a net margin of 5.18% and a return on equity of 6.73%. The firm had revenue of $9.24 billion for the quarter. Equities analysts predict that Aegon NV will post $0.68 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 21st were given a $0.1522 dividend. This represents a dividend yield of 5.23%. This is an increase from Aegon NV’s previous semiannual dividend of $0.12. The ex-dividend date was Thursday, August 17th. Aegon NV’s payout ratio is presently 27.47%.
About Aegon NV
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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