Aegon N.V.

AEGON is a holding company. Through its subsidiaries, Co. provides life insurance and pensions operations in more than 20 countries in the Americas, Europe and Asia and is also active in savings and asset management operations, accident and health insurance, general insurance and to a limited extent banking operations. Co. operates through the following segments: the Americas (which includes the U.S.A., Mexico and Brazil); the Netherlands; the United Kingdom; Central & Eastern Europe; Spain and Portugal; Asia and Aegon Asset Management.
  • TickerAGN
  • ISINNL0000303709
  • ExchangeEuronext Amsterdam
  • SectorLife Insurance
  • CountryNetherlands

Analysts

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : L’EIOPA a augmenté la pression sur les dividendes des assureurs

>L’EIOPA a fortement durçi le ton - Alors que l’EIOPA (l’association des superviseurs européens) avait déjà incité les assureurs à la prudence concernant leur politique de dividende, il a publié, jeudi soir, un nouveau communiqué dans lequel il exhorte les assureurs (et réassureurs) à suspendre temporairement le versement des dividendes et les rachats d’actions, en raison des incertitudes économiques et financières engendrées par le coronavirus. L’EIOPA juge, en effet...

ING
ING Helpdesk

Benelux Morning Notes

Air France-KLM: Measures taken to preserve cash. Bekaert: Dividend reduced by 50%. EVS, Belgian Telecoms: Belgian Football league to stop the Belgian championships. Insurance: EIOPA, DNB urge temporary suspension of all discretionary capital dbn. Lotus Bakeries: Covid-19 update Royal Dutch Shell: Reasonable 1Q20, 2Q20 has many challenges, cash is king Van Lanschot Kempen: Postpones 2019 dividend payment

Moody's announces completion of a periodic review of ratings of AEGON N.V.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of AEGON N.V. Global Credit Research- 02 Apr 2020. London, 02 April 2020-- Moody's Investors Service has completed a periodic review of the ratings of AEGON N.V. and other ratings that are associated with the same analytical unit.

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : COVID-19: a new stress test for the sector

While the direct impact of COVID-19 is likely to be relatively limited, the consequences of the financial crisis will be more significant (lower equity markets, losses on fixed-income products). But solvency margins are set to remain robust. The sell-off in the sector (-29% YTD) looks overdone and we have upgraded our ratings on Allianz and Scor. We have cut our rating to Reduce vs Neutral on Hannover Re on valuation grounds (sizeable premium to the rest of the sector). AXA remai...

Matthieu DRIOL

Short term view - AEGON NV : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €5.746. Breaking below the support at €4.945 would invalidate the trend.

Matthieu DRIOL

Analyse court terme - AEGON NV : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 5,746 €. La rupture du support à 4,945 € invaliderait cette tendance.

Matthieu DRIOL

Short term view - AEGON NV : Falling.

The trend is bullish. The current fall looks like a consolidation. The support at €5.214 could cause a bullish reaction towards €5.746. The break of €4.945 would endanger the trend.

Matthieu DRIOL

Analyse court terme - AEGON NV : Baisse en cours.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 5,214 € pourrait relancer le mouvement haussier vers 5,746 €. La rupture de 4,945 € mettrait la tendance en danger.

Matthieu DRIOL

Analyse moyen terme - AEGON NV : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 4,952 €. La tendance serait remise en cause par la rupture de 4,952 €.

Aegon NV: 1 director sold

A director at Aegon NV sold 36,035 shares at 4.590EUR and the significance rating of the trade was 62/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : L’EIOPA a augmenté la pression sur les dividendes des assureurs

>L’EIOPA a fortement durçi le ton - Alors que l’EIOPA (l’association des superviseurs européens) avait déjà incité les assureurs à la prudence concernant leur politique de dividende, il a publié, jeudi soir, un nouveau communiqué dans lequel il exhorte les assureurs (et réassureurs) à suspendre temporairement le versement des dividendes et les rachats d’actions, en raison des incertitudes économiques et financières engendrées par le coronavirus. L’EIOPA juge, en effet...

ING
ING Helpdesk

Benelux Morning Notes

Air France-KLM: Measures taken to preserve cash. Bekaert: Dividend reduced by 50%. EVS, Belgian Telecoms: Belgian Football league to stop the Belgian championships. Insurance: EIOPA, DNB urge temporary suspension of all discretionary capital dbn. Lotus Bakeries: Covid-19 update Royal Dutch Shell: Reasonable 1Q20, 2Q20 has many challenges, cash is king Van Lanschot Kempen: Postpones 2019 dividend payment

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : COVID-19: a new stress test for the sector

While the direct impact of COVID-19 is likely to be relatively limited, the consequences of the financial crisis will be more significant (lower equity markets, losses on fixed-income products). But solvency margins are set to remain robust. The sell-off in the sector (-29% YTD) looks overdone and we have upgraded our ratings on Allianz and Scor. We have cut our rating to Reduce vs Neutral on Hannover Re on valuation grounds (sizeable premium to the rest of the sector). AXA remai...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : COVID-19 : un nouveau stress test pour le secteur

Si l’impact direct du COVID-19 devrait rester relativement limité, les conséquences de la crise financière seront plus importantes (baisse des actions, pertes sur les produits de taux). Les marges de solvabilité restent toutefois solides. La forte baisse du secteur (-29% YTD) apparaît exagérée et nous relevons à l’Achat notre opinion sur Allianz et Scor. Nous réduisons à Alléger vs Neutre celle sur Hannover Re pour des raisons de valorisation (prime importante vs reste du secteur...

ING
ING Helpdesk

Benelux Morning Notes

AB InBev: In cider dealing. ABN AMRO: Announces support measures for clients. Insurance: EIOPA calls on insurers to take measures to preserve capital position. NN Group: SII ratio at c.210% (FY19: 218%) – DNO obtained in relation to VIVAT. SBM Offshore: Two bidders for Mero-3. Sligro: The going gets tough

Moody's announces completion of a periodic review of ratings of AEGON N.V.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of AEGON N.V. Global Credit Research- 02 Apr 2020. London, 02 April 2020-- Moody's Investors Service has completed a periodic review of the ratings of AEGON N.V. and other ratings that are associated with the same analytical unit.

AEGON N.V.: US business weighs on underlying earnings results

Aegon reported a 5% decrease in pre-tax underlying earnings at YE19 driven by its dominant US business. However, the European business increased earnings and Group net income increased.

AEGON N.V.: Update following affirmation of ratings

A detailed rationale for Aegon N.V.'s A3 stable senior debt rating, highlighting its operations' credit profile as well as the holding's capital structure and liquidity profile.

ING
Maureen Schuller ...
  • Suvi Platerink Kosonen

Dutch financials/Banks more affected by the thin cap rule

During the annual budget day (Prinsjesdag, the third Tuesday of September) the Dutch government published its 2020 tax plan. The 2020 tax plan provides, among other things, for the introduction of the anticipated thin cap rule for banks and insurers. We consider banks to be more exposed than insurance companies to the tax change.

AEGON N.V.: Semi-annual update

A detailed rationale for Aegon N.V.'s A3 stable senior debt rating, highlighting its operations' credit profile as well as the holding's capital structure and liquidity profile.

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Haris Ladouari
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Marc Lavaud
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/14/2020

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Haris Ladouari
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Marc Lavaud
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/02/2020

...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean Danjou
  • Matthias Desmarais

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/10/2020

Scandic Hotels is the leading player in the Nordic hotel sector. The group boasts a broadly positive track record in terms of development and growth although its profitability continues to lag behind that of its peers. The outlook is fairly mixed and the lack of clear catalysts prompts us to take a cautious stance on the stock. We are initiating coverage with a Neutral rating and a target price of SEK 98. - ...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean Danjou
  • Matthias Desmarais

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/02/2020

Scandic est le leader de l’hôtellerie nordique. Le groupe est fort d’un track record globalement positif en termes de développement et de croissance même si la profitabilité reste en léger décalage par rapport aux pairs. Les perspectives à venir plutôt mitigées et le manque de catalyseurs francs nous poussent à être prudents sur le titre. Nous initions la valeur avec une recommandation Neutre et un objectif de cours de 98 SEK. Cf. étude publiée ce jour. - ...

Alfred Glaser ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Jean Sassus
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/28/2020

We have upgraded our recommendation for Edenred to Buy and our target price to € 60.0. The group, now part of the payment services universe, should continue to deliver solid growth in underpenetrated niche markets, with considerable scope to improve its profitability whilst at the same time maintaining significant FCF generation. The current valuation nonetheless remains discounted vs the payment services sector. - ...

An increasingly favourable environment allows AEGON to improve to Neutral

The independent financial analyst theScreener just upgraded the general evaluation of AEGON (NL), a company active in the Life Insurance industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains as risky. theScreener believes, however, that a more enabling environment allows the title to increase its general evaluation to Neutral. As of the analysis date October 22, 2019, the closing price was EUR 3.97 and its expected value was estimated at EUR 3.81.

Zhang Jun

Aegon N.V.

Expert Corporate Governance Service (ECGS)

Aegon - AGM 17 May 2019

In general, Aegon is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. ECGS recommends to vote FOR at all proposals. There are no further peculiarities.

Aegon – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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