Aegon (AEG) AI Stock Analysis

• Market Cap: $12.13B
• Dividend Yield: 5.74%
• Average Volume (3M): 4.63M
• Price to Earnings (P/E): 8.5
• Beta (1Y): 1.02
• Revenue Growth: -6.19%
• EPS Growth: N/A
• Country: US
• Employees: 15,582
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Diversified
• EPS (TTM): 0.40
• Shares Outstanding: 1,652,797,500
• 10 Day Avg. Volume: 3,969,783
• 30 Day Avg. Volume: 4,631,664
• PEG Ratio: -0.04
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 0.59
• P/FCF Ratio: 16.43
• Enterprise Value/Market Cap: 1.37
• Enterprise Value/Revenue: 0.72
• Enterprise Value/Gross Profit: 0.72
• Enterprise Value/Ebitda: -2.97
• 1Y Price Target: $8.00
• Price Target Upside: 5.82% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 69 Neutral
• Price Target: $8.00 ▲(5.82% Upside)

Aegon's overall stock score is driven by strong technical indicators and positive earnings call highlights, including strategic growth initiatives and solid operating results. Financial performance shows a recovery path, though challenges in revenue volatility and equity retention remain. Valuation is attractive with a reasonable P/E ratio and high dividend yield.

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 through various segments, including Life Insurance, Pension Solutions, and Asset Management, serving millions of customers across Europe, the Americas, and Asia. Aegon offers a wide range of products including life insurance, retirement solutions, and investment products, focusing on helping individuals achieve financial security and manage their savings effectively.

How the Company Makes Money

Aegon generates revenue primarily through premiums collected from life insurance policies and fees from asset management services. The company earns premium income from its life insurance and pension products, which are often designed to provide long-term financial protection and retirement income for policyholders. Additionally, Aegon receives management fees from its investment products and funds, which are based on the assets under management (AUM). This includes both active and passive investment strategies. Aegon also benefits from its partnerships with various financial institutions and advisors, which help distribute its products and broaden its customer base. The company's earnings are further supported by investment income generated from its large portfolio of bonds, equities, and real estate investments, which are utilized to back its insurance liabilities and fund its operations.

Aegon Financial Statement Overview

Summary

Aegon shows signs of recovery with improved profitability and a stable balance sheet. Despite challenges in revenue volatility and equity retention, the company demonstrates positive cash flow conversion and reduced net debt.

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: Neutral
• Last Price: 7.56
• 50DMA: Negative
• 100DMA: Positive
• 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 Neutral. The current price of 7.56 is below the 20-day moving average (MA) of 7.84, below the 50-day MA of 7.65, and above the 200-day MA of 6.67, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 40.11 is Neutral, neither overbought nor oversold. The STOCH value of 24.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AEG.

Aegon Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ACGL	78 Outperform	$33.43B	9.25	17.09%	―	23.79%	-32.09%
HIG	74 Outperform	$34.86B	11.24	19.55%	1.68%	7.67%	15.99%
AEG	69 Neutral	$12.13B	8.49	14.42%	5.74%	-6.19%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
AIG	67 Neutral	$45.02B	15.06	7.61%	2.21%	-33.87%	-5.72%
PFG	67 Neutral	$18.02B	16.29	10.16%	3.85%	-3.34%	-3.32%
EQH	57 Neutral	$14.58B	39.25	34.30%	2.16%	5.05%	-47.26%

Aegon Corporate Events

Aegon Announces Sale of 12.5 Million Shares in a.s.r.

On September 2, 2025, Aegon Ltd. announced its intention to sell approximately 12.5 million ordinary shares in ASR Nederland N.V., representing about 6% of a.s.r.’s share capital. This sale will be conducted through an accelerated bookbuild offering to qualified institutional investors. Following the sale, Aegon’s stake in a.s.r. will decrease from 29.96% to around 24%, although Aegon will remain the largest shareholder and continue to support a.s.r.’s strategy. The proceeds from the sale will be managed under Aegon’s capital management framework, with a commitment to reduce its Cash Capital at Holding to around EUR 1.0 billion by the end of 2026.

Aegon Expands Share Buyback Program to EUR 400 Million

On August 25, 2025, Aegon announced an increase in its share buyback program from EUR 200 million to EUR 400 million, which began on July 1, 2025. The increase, first announced on August 21, 2025, involves participation from its largest shareholder, Vereniging Aegon, and is expected to be completed by December 15, 2025. The buyback is conducted under the EU’s Market Abuse Regulation and aims to cancel the repurchased shares, potentially impacting Aegon’s market positioning and shareholder value.

Aegon Reports Strong 1H 2025 Results and Considers U.S. Relocation

Aegon Ltd. reported strong financial results for the first half of 2025, with a net profit of EUR 606 million compared to a net loss in the same period last year. The operating result increased by 19%, driven by business growth and improved performance in the United States. The company announced an increase in its share buyback program and a higher interim dividend. Aegon is also reviewing the potential relocation of its legal domicile and head office to the United States to align its corporate structure with its primary market, which could simplify its operations and regulatory framework.

Aegon Reports Strong Financial Turnaround in 1H 2025

Aegon Ltd. released its interim financial information for the first half of 2025, reporting a net profit of EUR 606 million, a significant turnaround from a net loss of EUR 65 million in the same period of 2024. The operating result increased by 19% to EUR 845 million, driven by business growth and improved experience variance in the US, indicating a positive impact on the company’s financial health and market positioning.