On February 09, Aegon N.V. (AEG) declared its financial results for the fourth quarter of fiscal 2021. As a result, the stock suffered a loss in the premarket on Wednesday.
In the previous trading session, the stock was able to gain 1.14% at its closing price of $6.20. The stock witnessed 129% of its average volume at 4.09 million shares during the session. Following the announcement of the results, AEG was down by 5.97% in the premarket, at the last check. Hence, the stock was trading at $5.83 apiece in the premarket, at the time of writing.
The insurance, pensions, and asset management services provider, Aegon N.V. has a market capitalization of $12.55 billion. Currently, the company has 2.11 billion shares outstanding in the market. So far, AEG stock has increased by 25.51% year to date while it was able to add 41.23% last year.
AEG: 2021 Financials
In fiscal 2021, the company’s net results were EUR 1,701 million against EUR 55 million in the previous year. Additionally, the net results in Q4 were EUR 526 million, double the value of Q4 2020.
Moreover, the fiscal 2021 operating result increased 11% YOY to EUR 1,906 million, against EUR 1,710 million in the previous year. The operating result declined by 2% YOY to EUR 470 million in Q4 2021.
Furthermore, the full-year free cash flow increased to EUR 729 million in fiscal 2021. Comparatively, the free cash flow was EUR 530 million in the previous year.
In addition, a final 2021 dividend of EUR 0.09 per common share was proposed, bringing the full-year dividend to EUR 348 million (EUR 0.17/share).
New Appointment
On February 07, Deborah Waters was appointed as the company’s Chief Technology Officer and member of its Management Board. AEG’s previous CTO, Mark Bloom stepped down from the position on June 1, 2021.
Before joining the company, Deborah served in various leadership positions with Citigroup Inc. for over 25 years.
AEG: Share Buyback Program
On January 07, the company announced a share buyback program of EUR 50 million. The share buyback program was initiated for meeting its obligations arising from the 2021 and 2022 share-based compensation plans for senior management.
On January 25, AEG announced the completion of the program with the repurchase of a total of 10,158,360 common shares.
Conclusion
Following the company’s recent financial results, AEG stock dipped in the premarket. While the results did show YOY-based improvement but the investors were highly disappointed. Thus, the stock went downhill after the results were declared.
