AllAnalyst Report
logoMorningstarMay 12, 2021

Aegon N.V.: Aegon Reports Another Good Result in First-Quarter 2021; FVE Maintained and Shares Undervalued

Symbols
AEG
Sector(s)
Financial Services
Rating
Current Price
$4.39
Fair Value
Economic Moat
Stewardship
Summary

Aegon is a Dutch headquartered insurance company with core operations that stretch across the U.S., Netherlands, and United Kingdom. The business also holds peripheral ventures in Spain, Portugal, and China and life insurance in Bermuda. Aegon management recently announced the sale of its Central and Eastern European operations to Vienna Insurance in what we think is an approximate fairly priced transaction. However, we would like to see these divestments go further with the sale of Spain and Portugal as well as the U.K. under the company’s new leadership.

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Analyst Profile

Henry Heathfield

Equity Analyst
Henry Heathfield, CFA, is an equity analyst for Morningstar Holland BV, a wholly owned subsidiary of Morningstar, Inc. He covers insurance.Before joining Morningstar in 2016, Heathfield spent five years as a European and U.K. generalist at Silchester International Investors and three years at Redmayne-Bentley Stockbrokers.Heathfield holds a bachelor’s degree from Nottingham Trent University and a master’s degree in finance from the London Business School.