The analyst consensus is based on the most recent estimates submitted by various financial analysts to Aegon N.V.
The details of sell-side analysts who regularly publish equity research on Aegon and contribute to the consensus are listed below.
| Broker | Analyst | Email address |
| ABN AMRO | Cor Kluis | cor.kluis@nl.abnamro.com |
| Autonomous Research | Farquhar Murray | fmurray@autonomous.com |
| Bank of America - Merrill Lynch | Michael van Wegen | michael.vanwegen@baml.com |
| Barclays | Claudia Gaspari | claudia.gaspari@barcap.com |
| Citi | Andrew Baker | andrew1.baker@citi.com |
| Credit Suisse | Farooq Hanif | farooq.hanif@credit-suisse.com |
| Deutsche Bank | Hadley Cohen | hadley.cohen@db.com |
| Evercore | David Motemaden | David.Motemaden@EvercoreISI.com |
| Goldman Sachs | Johnny Vo | johnny.vo@gs.com |
| HSBC | Steven Haywood | steven.haywood@hsbcib.com |
| ING | Albert Ploegh | albert.ploegh@ing.com |
| Jefferies | Mark Cathcart | mcathcart@jefferies.com |
| J.P. Morgan | Ashik Musaddi | ashik.x.musaddi@jpmorgan.com |
| KBC Securities | Jason Kalamboussis | Jason.kalamboussis@kbcsecurities.be |
| Keefe, Bruyette & Woods | William Hawkins | whawkins@kbw.com |
| Kempen & Co | Matthias de Wit | Matthias.deWit@kempen.com |
| Kepler Cheuvreux | Benoît Petrarque | benoit.petrarque@keplercm.com |
| Mediobanca | Robin van den Broek | robin.vandenbroek@mediobanca.com |
| Oddo BHF/ Natixis Securities | Benoît Valleaux | benoit.valleaux@oddo-bhf.com |
| RBC | Gordon Aitken | gordon.aitken@rbccm.com |
| Société Générale | Nick Holmes | nick.holmes@sgcib.com |
| UBS | Colm Kelly | colm.kelly@ubs.com |
| Exane BNP Paribas | David Barma | David.Barma@exanebnpparibas.com |
| Morgan Stanley | Fulin Liang | Fulin.Liang@morganstanley.com |
The estimates and any related opinions, forecasts, projections, predictions or expectations, are the sole responsibility of the analysts concerned. Aegon N.V. has not commented on nor verified any (individual) estimates and it does not express any opinion on nor endorses the estimates or their correctness and accuracy in any way. Aegon N.V accepts no liability in respect of the analyst consensus and undertakes no obligation to provide updates or revisions.
It should be noted that estimates are, by definition, forward looking and are therefore subject to risks and uncertainties which are subject to change at any time and which may materially affect eventual results.
This analyst consensus is provided for information purposes only. It should not be seen as a recommendation to buy or sell financial instruments in Aegon N.V., or to take or refrain from taking any other action.
Take a look at our Financial Calendar for dates of upcoming events, including our next half-yearly results.
Date of publication: April 24, 2020
1Q 2020 consensus
|
in EUR mln / in % |
Median | Highest | Lowest | Average | # of estimates |
| Underlying earnings before tax | 449 | 502 | 310 | 435 | 16 |
| Net income | 64 | 290 | (649) | (118) | 16 |
| Holding excess cash | 1,303 | 1,393 | 1,250 | 1,310 | 14 |
| Normalized capital generation 1 | 318 | 390 | 228 | 312 | 12 |
| Solvency II ratio (in %) | 199% | 207% | 187% | 199% | 16 |
| Amounts in EUR million | Low | Average | High | # of estimates | |
| Underlying earnings before tax | 461 | 489 | 515 | 20 | |
| Fair value items | (172) | (102) | (42) | 20 | |
| Gains/losses on investments | (13) | 70 | 129 | 20 | |
| Impairment charges | (57) | (29) | (0) | 20 | |
| Other income | (75) | (15) | 5 | 20 | |
| Run-off businesses | (14) | (1) | 5 | 20 | |
| Net income | 228 | 321 | 463 | 20 | |
| Operational Free Cash Flow excl. market impacts and one-time items | 228 | 321 | 372 | 15 | |
| Shareholders' equity end of period | 15,467 | 18,046 | 18,873 | 19 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 | |
| Underlying earnings before tax | 461 | 489 | 515 | 20 | |
| Fair value items | (172) | (102) | (42) | 20 | |
| Gains/losses on investments | (13) | 70 | 129 | 20 | |
| Impairment charges | (57) | (29) | (0) | 20 | |
| Other income | (75) | (15) | 5 | 20 | |
| Run-off businesses | (14) | (1) | 5 | 20 | |
| Net income | 228 | 321 | 463 | 20 | |
| Operational Free Cash Flow excl. market impacts and one-time items | 228 | 321 | 372 | 15 | |
| Shareholders' equity end of period | 15,467 | 18,046 | 18,873 | 19 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 |
Date of publication: January 23, 2020
2H 2019 estimates
| in EUR mln / in % | Median | Highest | Lowest | Average | # of estimates |
| Underlying earnings before tax | 997 | 1,086 | 912 | 1,003 | 18 |
| Fair value items | 360 | 485 | 209 | 331 | 17 |
| Gains (losses) on investments | 50 | 143 | -147 | 26 | 17 |
| Impairment charges | -40 | 14 | -150 | -44 | 17 |
| Other income/(charges) | -112 | -58 | -307 | -131 | 17 |
| Run-off businesses | 0 | 9 | -22 | -2 | 17 |
| Net income | 937 | 1,125 | 810 | 942 | 17 |
| Shareholders' equity | 21,792 | 24,172 | 20,221 | 21,857 | 15 |
| Shareholders' equity, excluding revaluation account | 16,886 | 17,867 | 16,343 | 16,909 | 13 |
| Return on equity (in %) | 9.0% | 10.4% | 8.1% | 9.1% | 9 |
| Dividend per share (in EUE per share) | 0.16 | 0.16 | 0.15 | 0.158 | 18 |
| Gross remittances | 552 | 628 | 425 | 548 | 15 |
| Holding excess cash | 1,221 | 1,431 | 1,116 | 1,232 | 17 |
| Capital generation excl. market impacts and one-time items | 814 | 975 | 652 | 800 | 13 |
| Capital generation excl. market impacts and one-time items after holding funding & operating expenses | 644 | 810 | 517 | 632 | 13 |
| Solvency II ratio (in %) | 211% | 214% | 206% | 211% | 17 |
Underlying earnings before tax estimates
| Amounts in EUR million | Median | Highest | Lowest | Average | # of estimates |
| Full year 2020 | 2,114 | 2,248 | 1,931 | 2,094 | 16 |
| Full year 2021 | 2,153 | 2,384 | 1,889 | 2,143 | 16 |
| Amounts in EUR million | Low | Average | High | # of estimates | |
| Underlying earnings before tax | 461 | 489 | 515 | 20 | |
| Fair value items | (172) | (102) | (42) | 20 | |
| Gains/losses on investments | (13) | 70 | 129 | 20 | |
| Impairment charges | (57) | (29) | (0) | 20 | |
| Other income | (75) | (15) | 5 | 20 | |
| Run-off businesses | (14) | (1) | 5 | 20 | |
| Net income | 228 | 321 | 463 | 20 | |
| Operational Free Cash Flow excl. market impacts and one-time items | 228 | 321 | 372 | 15 | |
| Shareholders' equity end of period | 15,467 | 18,046 | 18,873 | 19 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 | |
| Underlying earnings before tax | 461 | 489 | 515 | 20 | |
| Fair value items | (172) | (102) | (42) | 20 | |
| Gains/losses on investments | (13) | 70 | 129 | 20 | |
| Impairment charges | (57) | (29) | (0) | 20 | |
| Other income | (75) | (15) | 5 | 20 | |
| Run-off businesses | (14) | (1) | 5 | 20 | |
| Net income | 228 | 321 | 463 | 20 | |
| Operational Free Cash Flow excl. market impacts and one-time items | 228 | 321 | 372 | 15 | |
| Shareholders' equity end of period | 15,467 | 18,046 | 18,873 | 19 | |
| Adjusted shareholders' equity end of period* | 13,258 | 15,017 | 15,690 | 17 |
