Aegon (NYSE:AEG) Announces Stock Buyback Plan

Aegon (NYSE:AEG) declared that its Board of Directors has approved a share buyback program on Friday, May 16th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

AEG has been the subject of a number of analyst reports. StockNews.com downgraded Aegon from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. BNP Paribas raised Aegon from a “hold” rating to an “outperform” rating in a report on Wednesday, May 7th. Finally, BNP Paribas Exane raised shares of Aegon from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 7th.

Aegon Trading Down 0.8%

NYSE:AEG opened at $6.92 on Monday. The company has a market capitalization of $15.24 billion, a P/E ratio of 7.20 and a beta of 0.91. The firm has a 50-day moving average price of $6.40 and a two-hundred day moving average price of $6.33. Aegon has a twelve month low of $5.42 and a twelve month high of $6.99.

Aegon Increases Dividend

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

Aegon Company Profile

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.