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. More Details


Snowflake Analysis

Very undervalued with solid 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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.0%

AGN

-0.2%

NL Insurance

-2.2%

NL Market


1 Year Return

-37.5%

AGN

-24.4%

NL Insurance

-9.2%

NL Market

Return vs Industry: AGN underperformed the Dutch Insurance industry which returned -25.5% over the past year.

Return vs Market: AGN underperformed the Dutch Market which returned -9.5% over the past year.


Shareholder returns

AGNIndustryMarket
7 Day3.0%-0.2%-2.2%
30 Day23.3%-0.6%1.8%
90 Day-5.7%-7.0%-2.2%
1 Year-35.9%-37.5%-20.9%-24.4%-6.9%-9.2%
3 Year-42.6%-50.9%-9.3%-22.5%-1.6%-11.5%
5 Year-41.3%-55.4%12.8%-13.0%27.7%4.7%

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 (€2.5) is trading below our estimate of fair value (€7.01)

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 (6x) compared to the XE Insurance industry average (10.2x).

PE vs Market: AGN is good value based on its PE Ratio (6x) compared to the Dutch market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: AGN is good value based on its PEG Ratio (0.3x)


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 (0.9x).


Next Steps

Future Growth

How is Aegon forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

21.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGN's forecast earnings growth (21.7% per year) is above the savings rate (0.4%).

Earnings vs Market: AGN's earnings (21.7% per year) are forecast to grow slower than the Dutch market (26.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AGN's revenue is expected to decline over the next 3 years (-1.2% per year).

High Growth Revenue: AGN's revenue is forecast to decline over the next 3 years (-1.2% 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 (6.9%).


Next Steps

Past Performance

How has Aegon performed over the past 5 years?

30.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AGN has high quality earnings.

Growing Profit Margin: AGN's current net profit margins (2.4%) are higher than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: AGN's earnings have grown significantly by 30.4% per year over the past 5 years.

Accelerating Growth: AGN's earnings growth over the past year (102.1%) exceeds its 5-year average (30.4% per year).

Earnings vs Industry: AGN earnings growth over the past year (102.1%) exceeded the Insurance industry -4.4%.


Return on Equity

High ROE: AGN's Return on Equity (3.6%) is considered low.


Next Steps

Financial Health

How is Aegon's financial position?


Financial Position Analysis

Short Term Liabilities: AGN's short term assets (€66.9B) exceed its short term liabilities (€30.6B).

Long Term Liabilities: AGN's short term assets (€66.9B) do not cover its long term liabilities (€387.3B).


Debt to Equity History and Analysis

Debt Level: AGN's debt to equity ratio (42.6%) is considered high.

Reducing Debt: AGN's debt to equity ratio has reduced from 53.1% to 42.6% over the past 5 years.

Debt Coverage: AGN's debt is not well covered by operating cash flow (5%).

Interest Coverage: AGN's interest payments on its debt are not well covered by EBIT (2.1x coverage).


Balance Sheet


Next Steps

Dividend

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

4.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AGN's dividend (4.8%) is higher than the bottom 25% of dividend payers in the Dutch market (2.17%).

High Dividend: AGN's dividend (4.8%) is low compared to the top 25% of dividend payers in the Dutch market (6.17%).


Stability and Growth of Payments

Stable Dividend: AGN has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: AGN has only been paying a dividend for 9 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (14.4%), AGN's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AGN's dividends in 3 years are forecast to be well covered by earnings (32.6% payout ratio).


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Lard Friese (58 yo)

0.42

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 Board3.42yrs€1.74m0.0038%
€ 191.2k
E. Friese
CEO & Chairman of Management Board0.42yrno data0.0018%
€ 88.1k
Marco B. Keim
CEO of Aegon International & Member of the Management Board12.33yrsno datano data
Mark Mullin
CEO of Aegon Americas & Member of the Management Board10.75yrsno datano data
C. M. Mahieu
Global Head of Human Resources & Member of the Management Board4.17yrsno datano data
Allegra Cristina van Hövell-Patrizi
Chief Risk Officer & Member of the Management Board4.75yrsno datano data
J. van Klinken
General Counsel4.17yrsno datano data
Mark Bloom
Global CTO & Member of the Management Board4.17yrsno datano data
Maarten Edixhoven
CEO of Aegon the Netherlands & Member of the Management Board1yrno datano data
Bas NieuweWeme
Global CEO of Aegon Asset Management & Member of Management Board1.33yrsno datano data
Michael Holliday-Williams
CEO of Aegon UK & Member of Management Board0.58yrno datano data
Duncan Russell
Chief Transformation Officer & Member of Management Board0.083yrno datano data

3.8yrs

Average Tenure

53.5yo

Average Age

Experienced Management: AGN's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Dona Young
Independent Supervisory Board Member7.42yrs€158.00k0.00065%
€ 32.5k
Thomas Wellauer
Independent Member of Supervisory Board0.42yrno datano data
Ben Noteboom
Independent Supervisory Board Member5.42yrs€103.00k0.0011%
€ 57.6k
Mark Ellman
Independent Supervisory Board Member3.42yrs€115.00kno data
William L. Connelly
Independent Supervisory Board Chairman2.42yrs€169.00kno data
Corien Wortmann-Kool
Independent Supervisory Board Vice Chairman3.75yrs€123.00kno data
Caroline Ramsay
Independent Supervisory Board Member0.42yrno datano data

3.4yrs

Average Tenure

62yo

Average Age

Experienced Board: AGN's board of directors are considered experienced (3.4 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: €5.005b
  • 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 insuranc ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/23 21:12
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
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.