Aegon's CFO Change, New Holding Structure May Weigh on Stock
Dow Jones
Aug 24
0830 GMT - Aegon faces near-term risks from the departure of Chief Financial Officer Duncan Russell and a new holding company structure that is perceived as less efficient, Citi's Alejandra Chavez says. The Dutch insurance and asset-management company reported lower-than-expected free cash flow for the first half due to a decline in remittances from its international arm, Citi says. However, overall reporting for the first half wasn't particularly noisy, the analyst adds. Negative surprises from the report were mostly temporary and the U.S. bank expects Aegon to meet or exceed its 2026 targets. Despite this, the leadership change and new structure might weigh on the stock, Citi says. It has a buy recommendation with a target price of 9.11 euros. Shares are up 1.1% at 7.84 euros.
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