Aegon (AEG) AI Stock Analysis

• Market Cap: $11.35B
• Dividend Yield: 5.86%
• Average Volume (3M): 5.50M
• Price to Earnings (P/E): 8.3
• Beta (1Y): 1.04
• Revenue Growth: -6.19%
• EPS Growth: N/A
• Country: US
• Employees: 15,582
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Diversified
• EPS (TTM): N/A
• Shares Outstanding: 1,573,119,900
• 10 Day Avg. Volume: 6,062,844
• 30 Day Avg. Volume: 5,498,475
• PEG Ratio: -0.04
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 0.59
• P/FCF Ratio: 16.08
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 0.48
• Enterprise Value/Gross Profit: 0.48
• Enterprise Value/Ebitda: -1.99
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.9
• Revenue Forecast (FY): $18.53B

• Rating: 64 Neutral
• Price Target: $7.50 ▼(-4.58% Downside)

Aegon's stock score is driven by a solid valuation and positive earnings call, indicating strategic progress and shareholder returns. Financial performance shows recovery, but technical indicators suggest caution due to bearish trends.

Positive Factors

Strategic Relocation to US

Relocating to the US strengthens Aegon's market position in its largest operational region, potentially enhancing competitive advantages and growth opportunities.

Strong Operating Results

Improved operating results indicate robust business growth and effective management, supporting long-term profitability and market competitiveness.

Expansion of Share Buyback Program

Expanding the share buyback program reflects confidence in financial health and commitment to enhancing shareholder value over the long term.

Negative Factors

Decrease in Operating Capital Generation

A decline in operating capital generation may indicate challenges in sustaining business operations and funding growth initiatives.

Decrease in Group Solvency Ratio

A lower solvency ratio can impact financial stability and limit the company's ability to absorb shocks, posing risks to long-term resilience.

Impact of Exchange Rate Movements

Exchange rate fluctuations can affect financial results and valuation, potentially complicating financial planning and performance assessment.

Aegon Business Overview & Revenue Model

Company Description

Aegon N.V. is a multinational life insurance, pensions, and asset management company headquartered in The Hague, Netherlands. The company operates in various sectors, primarily focusing on providing financial services including life insurance, retirement solutions, and investment management. Aegon's core products include individual and group life insurance, annuities, pensions, and various investment products tailored to meet the needs of both individual and institutional clients across its global market presence.

How the Company Makes Money

Aegon generates revenue through several key streams. The primary source is the premiums collected from life insurance policies and annuities, which contribute significantly to its income. Additionally, the company earns money through investment management fees from its asset management division, where it manages investments for both retail and institutional clients. Aegon also benefits from fees related to pension products and services. Significant partnerships with financial institutions and distribution networks enhance its reach and customer base, further contributing to its earnings. Overall, the combination of these revenue streams, along with prudent investment strategies, positions Aegon to achieve sustainable profitability.

Aegon Financial Statement Overview

Summary

Aegon shows a recovery in profitability with a positive swing in net income and improved net profit margin. The balance sheet is stable with moderate leverage, but challenges in equity retention persist. Cash flow conversion is improving, though operational efficiency has room for growth.

Income Statement

Aegon's income statement shows signs of recovery with a significant positive swing in net income from a loss in previous years to a profit in 2024. The gross profit margin remains consistent as total revenue equals gross profit, indicating no direct costs of goods sold. However, revenue has been volatile, with a sharp decline in recent years followed by a recovery. The net profit margin improved from negative to a positive 3.52% in 2024.

Balance Sheet

The balance sheet reflects a moderate financial structure with a debt-to-equity ratio of 0.54 in 2024, indicating reasonable leverage. However, stockholders' equity has seen a decline over the years, suggesting potential pressure on financial stability. The equity ratio is at 2.81%, highlighting a low proportion of equity financing relative to assets.

Cash Flow

Cash flow analysis shows a positive trend in free cash flow, despite a decline in operating cash flow from 2023 to 2024. The free cash flow to net income ratio is favorable, suggesting effective cash conversion. However, the operating cash flow to net income ratio is at 1.11, indicating room for improvement in operational efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.95B	19.52B	12.98B	-21.64B	46.50B	40.65B
Gross Profit	22.95B	19.52B	2.37B	14.29B	46.50B	40.65B
EBITDA	-5.59B	635.00M	-204.00M	1.00B	2.58B	169.00M
Net Income	1.30B	688.00M	-179.00M	-570.00M	1.98B	45.00M
Balance Sheet
Total Assets	310.63B	327.39B	301.58B	401.79B	468.25B	443.81B
Cash, Cash Equivalents and Short-Term Investments	53.68B	58.18B	4.07B	64.31B	108.25B	109.00B
Total Debt	4.27B	5.00B	4.92B	6.67B	12.23B	11.07B
Total Liabilities	301.25B	318.08B	292.03B	387.60B	441.88B	419.15B
Stockholders Equity	9.26B	9.19B	7.55B	10.76B	26.18B	24.59B
Cash Flow
Free Cash Flow	-116.00M	711.00M	799.00M	2.75B	-1.91B	-2.97B
Operating Cash Flow	-61.00M	762.00M	864.00M	2.85B	-1.80B	-2.85B
Investing Cash Flow	447.00M	300.00M	-2.00B	616.00M	-54.00M	-139.00M
Financing Cash Flow	-1.48B	-1.75B	-3.24B	-1.83B	300.00M	-778.00M

Aegon Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.86
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEG, the sentiment is Negative. The current price of 7.86 is above the 20-day moving average (MA) of 7.67, above the 50-day MA of 7.61, and above the 200-day MA of 7.03, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 47.12 is Neutral, neither overbought nor oversold. The STOCH value of 47.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AEG.

Aegon Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ACGL	79 Outperform	$34.88B	9.00	17.81%	―	16.68%	-28.54%
HIG	78 Outperform	$38.74B	11.36	20.07%	1.55%	7.11%	22.52%
PFG	76 Outperform	$19.54B	12.95	13.74%	3.46%	12.33%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
AEG	64 Neutral	$11.35B	8.32	14.42%	5.86%	-6.19%	―
AIG	60 Neutral	$46.42B	15.42	7.68%	2.03%	-23.02%	52.43%
EQH	40 Underperform	$13.76B	-17.35	-41.33%	2.19%	7.70%	-155.12%

Aegon Corporate Events

Aegon Announces Strategic Move to US, Rebranding as Transamerica

On December 10, 2025, Aegon announced its strategic plan to relocate its head office and legal seat to the US, renaming itself Transamerica Inc. by January 1, 2028. This move aims to strengthen its position in the US life insurance market, which represents 70% of its operations. The transition involves a strategic review of Aegon UK, a reinsurance transaction to reduce capital employed, and a new share buyback program. The relocation will incur an estimated one-time cost of EUR 350 million, with the company planning to report under US GAAP by 2027. This decision is expected to have significant organizational implications, particularly for its head office in the Netherlands, and requires shareholder approval in 2026.

Aegon Ltd. Reports Strong Q3 2025 Results and Strategic Growth

Aegon Ltd. reported a strong third quarter in 2025, with an operating capital generation of EUR 340 million and cash capital at holding of EUR 1.9 billion. The company successfully sold 12.5 million shares in a.s.r. for EUR 700 million and is on track to meet its financial targets for the year. Despite net outflows in its UK platform business, Aegon saw significant growth in its US Strategic Assets, with a 39% increase in Individual Life sales and expanded market share in the World Financial Group. The company remains well-capitalized and anticipates further strategic updates at its upcoming Capital Markets Day.

Aegon Announces Board Leadership Changes Effective November 2025

On November 3, 2025, Aegon announced changes to its Board of Directors, with David Herzog set to succeed William Connelly as Chairman on November 13, 2025. Connelly will retire from his position on the same date. Additionally, Aegon plans to propose Leni Boeren as a new board member at the 2026 Annual General Meeting. Boeren brings extensive experience from her roles in the financial services industry, including positions at Kempen Capital Management and Robeco Groep. These changes are expected to support Aegon’s strategic goals and ongoing transformation efforts.