Aegon's Consensus-Beating Results Might be Offset by CFO Exit

Dow Jones
Aug 20

0729 GMT - Aegon's consensus expectations for earnings per share might be upgraded after a strong set of results, but the figures could be overshadowed by the chief financial officer's departure, J.P. Morgan analysts say. The Dutch insurance and asset-management company reported operating profit and operating capital generation beats for the first half, which are likely to help analyst forecasts, JPM says. "This is tempered by negative below-the-line mortality and policyholder behavior-related assumption changes, although overall [pretax profit] is close to our estimates," the analysts add. JPM notes uncertainty for Aegon in the near term due to the departure of Chief Financial Officer Duncan Russell, which could slightly upstage the results. JPM maintains an overweight recommendation on the stock. Shares are down 3.1% at 7.78 euros.

 

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