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Aegon : Attractive valuation, still much work to be done on sales & capital releases
>Conclusion: Attractive valuation, still much work to be done on sales & capital - Based on the FY23 results and targets we updated our valuation metrics and we come to a cash FCF yield of 9.7%, OCG yield of 11.6%, P/BV & CSM 0.6x multiple, and a for excess cap and a.s.r. stake adj. FCF yield 13.2% so a quite attractive valuation. Their OCG cap generations targets were a touch light but that is as they assume more production growth as that consumes OCG. The solvency i...
Underlying
AEGON N.V.
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Cor Kluis
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