Aegon (AEG) Cut to Sell at Zacks Investment Research
Aegon (NYSE:AEG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Aegon N.V. is an international insurance group which writes life and health insurance and offers related pension, savings and investment products in Europe, North America and the Caribbean. The Company’s other lines of business include property and casualty insurance and financial services. “
Several other equities research analysts have also recently issued reports on AEG. ValuEngine cut shares of Aegon from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Sanford C. Bernstein assumed coverage on shares of Aegon in a research report on Thursday, September 14th. They set a “market perform” rating and a $4.60 price target on the stock. Societe Generale cut shares of Aegon from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Finally, TheStreet raised shares of Aegon from a “c+” rating to a “b” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Aegon currently has an average rating of “Hold” and an average target price of $5.43.
Aegon declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 28th that allows the company to buyback 51,860,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of AEG. Arrowstreet Capital Limited Partnership lifted its position in shares of Aegon by 25.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,935 shares of the financial services provider’s stock worth $42,397,000 after purchasing an additional 1,690,800 shares in the last quarter. Todd Asset Management LLC acquired a new position in shares of Aegon during the second quarter worth $3,006,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Aegon during the second quarter worth $3,006,000. Brandes Investment Partners LP lifted its position in shares of Aegon by 4.4% during the second quarter. Brandes Investment Partners LP now owns 12,565,352 shares of the financial services provider’s stock worth $64,209,000 after purchasing an additional 525,598 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in shares of Aegon by 40.1% during the second quarter. CIBC World Markets Inc. now owns 961,636 shares of the financial services provider’s stock worth $4,914,000 after purchasing an additional 275,244 shares in the last quarter. 10.15% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Aegon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aegon and related companies with MarketBeat.com's FREE daily email newsletter.