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Societe Generale set Aegon share price target


On Tuesday, Societe Generale raised the advice for Aegon from selling to holding and the price target from 3.20 euro to 4.10 euro. This was shown by a report from the French bank.

The main reason for the advice increase is the rapidly rising interest rate on US bonds, which, according to the French bank, greatly improved the prospects for the Dutch insurer. The analysts stressed that the US is responsible for more than 60 percent of Aegon’s profits.

The favourable market conditions also make it easier for Aegon to dispose of assets in the short term, which is a core part of the insurer’s new strategy, says Societe Generale. However, the divestments may lead to a significant dilution of profits, the analysts warned.

Aegon’s share has risen sharply in recent months, so according to Societe Generale many good news has already been taken into account in the price. Therefore, despite the favourable market conditions, a buying opinion is not available.

The French bank expects Aegon to pay a dividend of 0.15 euros per share in 2021, rising to 0.19 euros in 2022.

Written by: Harry Adams

Harry Adams is a political expert who has been working for various publications under pseudonyms for 11 years. He loves sarcasm and a rigid presentation of the material without decorations.

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