Aegon (NYSE:AEG) Reaches New 52-Week High – Should You Buy?

Aegon NV (NYSE:AEG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $8.82 and last traded at $8.8050, with a volume of 528426 shares changing hands. The stock had previously closed at $8.66.

Wall Street Analyst Weigh In

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

Aegon Price Performance

The firm has a market cap of $17.64 billion, a P/E ratio of -54.97 and a beta of 0.85. The firm’s fifty day simple moving average is $8.41 and its 200 day simple moving average is $7.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.07 and a current ratio of 0.07.

Hedge Funds Weigh In On Aegon

Several institutional investors have recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in Aegon in the 2nd quarter worth approximately $55,000. Bank of America Corp DE grew its holdings in shares of Aegon by 39.7% in the first quarter. Bank of America Corp DE now owns 362,408 shares of the financial services provider’s stock valued at $2,631,000 after purchasing an additional 102,930 shares in the last quarter. Royal Bank of Canada increased its position in Aegon by 3.2% in the first quarter. Royal Bank of Canada now owns 73,879 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 2,286 shares during the last quarter. Quantinno Capital Management LP raised its stake in 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 valued at $12,599,000 after purchasing an additional 520,221 shares in the last quarter. Finally, Entropy Technologies LP raised its stake in Aegon by 119.8% during the first quarter. Entropy Technologies LP now owns 142,001 shares of the financial services provider’s stock valued at $1,031,000 after purchasing an additional 77,400 shares in the last quarter. 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.