Opinions
Benj Gallander
Aegon N.V.
AEG-N
HOLD
Apr 23, 2019
Long term? A big Dutch insurer. They were too active for him, selling off division and buying new ones. Good dividend. This could return to double digits. He's happy to wait. They almost didn't survive the 2008 recession, but is doing much better now. But for now, he'll collect the dividend and see if it improves.
$5.100
Stock price when the opinion was issued
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COMMENT
Brexit deal positive for them? Doesn't know how Brexit will effect them. 33% of their business is in the UK and half in the U.S. They've been struggling like all insurers because of low interest rates. If those rates don't rise, AEG will languish. They have enough capital, and boast reasonable total returns. Dividend is high at 7%.
Financial Services
HOLD
A lifeco based in Holland with many operations in the U.S. Like all its European peers, it has suspended its dividend. Actually, the PE is less than 4x. AEG and most lifecos will survive this crisis; the assets side of their balance sheet are strong with highly rated bonds. Selling this is painful and criminal, so just endure the pain and ride it out. This is a strange time, but investors shouldn't fear that we're entering a black hole.
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