Parallel Advisors LLC Decreases Holdings in Aegon Ltd. (NYSE:AEG)

Parallel Advisors LLC trimmed its position in shares of Aegon Ltd. (NYSE:AEG) by 14.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 17,478 shares of the financial services provider’s stock after selling 3,023 shares during the quarter. Parallel Advisors LLC’s holdings in Aegon were worth $115,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wealthstar Advisors LLC purchased a new position in Aegon in the 4th quarter worth approximately $601,000. Savant Capital LLC grew its position in shares of Aegon by 6.4% in the 4th quarter. Savant Capital LLC now owns 37,744 shares of the financial services provider’s stock worth $222,000 after buying an additional 2,275 shares during the last quarter. OLD Mission Capital LLC grew its position in shares of Aegon by 450.5% in the 4th quarter. OLD Mission Capital LLC now owns 1,028,750 shares of the financial services provider’s stock worth $6,059,000 after buying an additional 841,863 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Aegon in the 4th quarter worth approximately $15,397,000. Finally, ABC Arbitrage SA bought a new stake in shares of Aegon during the fourth quarter valued at approximately $3,394,000. 4.32% of the stock is owned by hedge funds and other institutional investors.

Aegon Trading Up 1.0%

NYSE AEG opened at $7.26 on Friday. Aegon Ltd. has a 12 month low of $5.42 and a 12 month high of $7.32. The stock has a market cap of $16.00 billion, a P/E ratio of 7.56 and a beta of 0.92. The stock’s fifty day moving average price is $6.54 and its 200-day moving average price is $6.39.

Aegon declared that its board has authorized a stock buyback program on Friday, May 16th that allows the company to repurchase 0 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Aegon Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Tuesday, June 17th will be paid a $0.1992 dividend. This is a boost from Aegon’s previous semi-annual dividend of $0.17. This represents a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 17th. Aegon’s dividend payout ratio is currently 34.38%.

Analyst Upgrades and Downgrades

AEG has been the topic of several research reports. BNP Paribas Exane upgraded Aegon from a “neutral” rating to an “outperform” rating in a research report on Wednesday, May 7th. Wall Street Zen lowered Aegon from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. BNP Paribas upgraded Aegon from a “hold” rating to an “outperform” rating in a research report on Wednesday, May 7th. Finally, Berenberg Bank upgraded Aegon to a “strong-buy” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

About Aegon

Aegon Ltd. provides insurance, pensions, retirement, and asset management services in the United States, the Netherlands, the United Kingdom, and internationally. The company offers life, accident, property and casualty, and health insurance; annuities, retirement plans, mutual funds, and stable value solutions; residential mortgage and digital baking services; and retail and institutional investment management solutions and retirement savings vehicles and strategies.