ENXTAM:AGN

Stock Analysis Report

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Executive Summary

Aegon N.V. provides insurance, pensions, and asset management services in the Americas, Europe, and Asia.


Snowflake Analysis

Undervalued with acceptable track record.


Similar Companies

Share Price & News

How has Aegon's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AGN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.07%

AGN

0.03%

NL Insurance

0.6%

NL Market


1 Year Return

-39.0%

AGN

-18.5%

NL Insurance

-11.8%

NL Market

Return vs Industry: AGN underperformed the Dutch Insurance industry which returned -18.5% over the past year.

Return vs Market: AGN underperformed the Dutch Market which returned -11.8% over the past year.


Shareholder returns

AGNIndustryMarket
7 Day0.07%0.03%0.6%
30 Day8.6%2.2%4.8%
90 Day16.9%8.5%12.2%
1 Year-36.4%-39.0%-13.8%-18.5%-9.0%-11.8%
3 Year-31.6%-41.4%1.0%-13.3%7.0%-4.0%
5 Year-48.9%-61.0%17.8%-8.7%24.3%0.9%

Price Volatility Vs. Market

How volatile is Aegon's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Aegon undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AGN (€2.79) is trading below our estimate of fair value (€11.48)

Significantly Below Fair Value: AGN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AGN is good value based on its PE Ratio (5x) compared to the XE Insurance industry average (9.6x).

PE vs Market: AGN is good value based on its PE Ratio (5x) compared to the Dutch market (16.7x).


Price to Earnings Growth Ratio

PEG Ratio: AGN is poor value based on its PEG Ratio (4.3x)


Price to Book Ratio

PB vs Industry: AGN is good value based on its PB Ratio (0.2x) compared to the XE Insurance industry average (1x).


Next Steps

Future Growth

How is Aegon forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

1.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGN's forecast earnings growth (1.1% per year) is above the savings rate (0.4%).

Earnings vs Market: AGN's earnings (1.1% per year) are forecast to grow slower than the Dutch market (21.4% per year).

High Growth Earnings: AGN's earnings are forecast to grow, but not significantly.

Revenue vs Market: AGN's revenue is expected to decline over the next 3 years (-42.4% per year).

High Growth Revenue: AGN's revenue is forecast to decline over the next 3 years (-42.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AGN's Return on Equity is forecast to be low in 3 years time (6.7%).


Next Steps

Past Performance

How has Aegon performed over the past 5 years?

29.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AGN has a large one-off gain of €260.0M impacting its December 31 2019 financial results.

Growing Profit Margin: AGN's current net profit margins (1.8%) are lower than last year (3.3%).


Past Earnings Growth Analysis

Earnings Trend: AGN's earnings have grown significantly by 29.8% per year over the past 5 years.

Accelerating Growth: AGN's earnings growth over the past year (92.8%) exceeds its 5-year average (29.8% per year).

Earnings vs Industry: AGN earnings growth over the past year (92.8%) exceeded the Insurance industry 10%.


Return on Equity

High ROE: AGN's Return on Equity (5.1%) is considered low.


Next Steps

Financial Health

How is Aegon's financial position?


Financial Position Analysis

Short Term Liabilities: AGN's short term assets (€66.1B) exceed its short term liabilities (€30.6B).

Long Term Liabilities: AGN's short term assets (€66.1B) do not cover its long term liabilities (€385.3B).


Debt to Equity History and Analysis

Debt Level: AGN's debt to equity ratio (59.6%) is considered high.

Reducing Debt: AGN's debt to equity ratio has increased from 54.4% to 59.6% over the past 5 years.

Debt Coverage: AGN's debt is well covered by operating cash flow (50.1%).

Interest Coverage: AGN's interest payments on its debt are not well covered by EBIT (2.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Aegon current dividend yield, its reliability and sustainability?

10.00%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AGN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AGN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AGN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AGN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: AGN is not paying a notable dividend for the Dutch market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AGN's dividend in 3 years as they are not forecast to pay a notable one for the Dutch market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.5yrs

Average management tenure


CEO

Lard Friese (58yo)

0.17

Tenure

Mr. E. Friese also known as Lard, serves as Chief Executive Officer and Chairman of the Executive Board at AEGON N.V since May 15, 2020. Mr. Friese served as Chair of the management and Chief Executive Off ...


Leadership Team

NamePositionTenureCompensationOwnership
Matthew Rider
CFO & Member of the Executive and Management Board3.17yrs€1.74m0.0038% 218.4k
Alexander Wynaendts
0.17yr€3.81m0.030% 1.7m
E. Friese
CEO & Chairman of Management Board0.17yrno data0.0018% 100.3k
Marco B. Keim
CEO of Aegon International & Member of the Management Board12.08yrsno datano data
Mark Mullin
CEO of Aegon Americas & Member of the Management Board10.5yrsno datano data
C. M. Mahieu
Global Head of Human Resources & Member of the Management Board3.92yrsno datano data
Allegra Cristina van Hövell-Patrizi
Chief Risk Officer & Member of the Management Board4.5yrsno datano data
J. van Klinken
General Counsel3.92yrsno datano data
Mark Bloom
Global CTO & Member of the Management Board3.92yrsno datano data
Maarten Edixhoven
CEO of Aegon the Netherlands & Member of the Management Board0.75yrno datano data
Bas NieuweWeme
Global CEO of Aegon Asset Management Member of Management Board1.08yrsno datano data
Michael Holliday-Williams
CEO of Aegon UK & Member of Management Board0.33yrno datano data

3.5yrs

Average Tenure

56.5yo

Average Age

Experienced Management: AGN's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Dona Young
Independent Supervisory Board Member7.17yrs€158.00k0.00065% 37.3k
Thomas Wellauer
Independent Member of Supervisory Board0.17yrno datano data
Ben Noteboom
Independent Supervisory Board Member5.17yrs€103.00k0.0011% 65.4k
Mark Ellman
Independent Supervisory Board Member3.17yrs€115.00kno data
William L. Connelly
Independent Supervisory Board Chairman2.17yrs€169.00kno data
Corien Wortmann-Kool
Independent Supervisory Board Vice Chairman3.5yrs€123.00kno data
Caroline Ramsay
Independent Supervisory Board Member0.17yrno datano data

3.2yrs

Average Tenure

62yo

Average Age

Experienced Board: AGN's board of directors are considered experienced (3.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Aegon N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Aegon N.V.
  • Ticker: AGN
  • Exchange: ENXTAM
  • Founded: 1983
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: €5.733b
  • Shares outstanding: 2.05b
  • Website: https://www.aegon.com

Number of Employees


Location

  • Aegon N.V.
  • Aegonplein 50
  • The Hague
  • Zuid-Holland
  • 2591 TV
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AEGNYSE (New York Stock Exchange)AMER REGD CERT(1 SH EUR0.12)USUSDJun 1985
AEG NBMV (Bolsa Mexicana de Valores)AMER REGD CERT(1 SH EUR0.12)MXMXNJun 1985
AENFDB (Deutsche Boerse AG)AMER REGD CERT(1 SH EUR0.12)DEEURJun 1985
AENFXTRA (XETRA Trading Platform)AMER REGD CERT(1 SH EUR0.12)DEEURJun 1985
0Q0YLSE (London Stock Exchange)YesCommon SharesGBEURJul 1988
AENDDB (Deutsche Boerse AG)YesCommon SharesDEEURJul 1988
AGNSWX (SIX Swiss Exchange)YesCommon SharesCHCHFJul 1988
AGNENXTAM (Euronext Amsterdam)YesCommon SharesNLEURJul 1988
AEGO.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJul 1988
AGNBIT (Borsa Italiana)YesCommon SharesITEURJul 1988
AENDXTRA (XETRA Trading Platform)YesCommon SharesDEEURJul 1988
AGNABATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJul 1988
AGNWBAG (Wiener Boerse AG)YesCommon SharesATEURJul 1988

Biography

Aegon N.V. provides insurance, pensions, and asset management services in the Americas, Europe, and Asia. Its insurance products include life, accident, and health insurance; property and casualty insurance; and household and car insurance. The company also offers savings products, such as retirement plan services; annuities; mutual funds; and stable value solutions. In addition, it provides retail and institutional investment management solutions, retirement savings vehicles, residential mortgages, and digital banking services. The company markets its products through brokers, agents, banks, employee benefit consultants, independent financial advisors, bancassurance channels, and advice centers. Aegon N.V. was founded in 1983 and is headquartered in The Hague, the Netherlands. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/13 20:49
End of Day Share Price2020/07/13 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.