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AEG

Aegon

$6.12

-0.205 (-3.24%)

13:03
08/10/18
08/10
13:03
08/10/18
13:03

Aegon to divest last block of U.S. life reinsurance business

Aegon announced it has agreed to divest the last substantial block of its life reinsurance business to SCOR Global Life. Under the terms of the agreement, Aegon's Transamerica life subsidiaries will reinsure approximately $700M of liabilities through SCOR Global Life. The transaction covers the last substantial block of life reinsurance business that Transamerica retained after it divested the vast majority of its reinsurance business to SCOR Global Life in 2011 and 2017. It is expected that the transaction has a one-time benefit of approximately $50M on Transamerica's capital position and a slightly positive effect on recurring capital generation. As a result of the transaction, Aegon will significantly reduce the size of a related captive insurance company and the related letter of credit facility in place to finance redundant reserves, generally referred to as XXX term life insurance reserves. "Future underlying earnings are not affected by this transaction as earnings of this block of reinsurance business are part of run-off businesses, which are not included in underlying earnings before tax. The transaction is expected to result in a pre-tax IFRS loss of approximately $105M, or EUR90M, and will be reported in Other charges in the second half 2018 results," Aegon said.

AEG Aegon
$6.12

-0.205 (-3.24%)

06/15/18
BOFA
06/15/18
DOWNGRADE
Target $5.4
BOFA
Underperform
AEGON downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Michael van Wegen downgraded AEGON to Underperform and cut its price target to $5.40 from $5.90 following "relatively strong" stock performance.
06/15/18
06/15/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Southwest (LUV) downgraded to Hold from Buy at Argus with analyst John Staszak saying that despite being well managed and financially strong, its focus on the domestic market will lead to slower relative growth based on better expected performance in the international space. 2. Motorcar Parts (MPAA) downgraded to Neutral from Buy at Roth Capital with analyst Matt Koranda saying he expects margin erosion to intensify in the coming quarters as better industry growth is awaited. 3. BHP Billiton (BHP) and Rio Tinto (RIO) were downgraded to Hold from Buy at Investec. 4. AEGON (AEG) downgraded to Underperform from Neutral at BofA/Merrill with analyst Michael van Wegen citing "relatively strong" stock performance. 5. Splunk (SPLK) downgraded to Sell from Neutral at Citi with analyst Walter Pritchard saying he sees "growth drivers plateauing" and "some warning signs in numbers." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/05/18
HSBC
07/05/18
UPGRADE
HSBC
Buy
AEGON upgraded to Buy from Hold at HSBC
07/10/18
EVER
07/10/18
INITIATION
EVER
Underperform
AEGON initiated with an Underperform at Evercore ISI

TODAY'S FREE FLY STORIES

06:50
11/20/18
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General news
Treasury Market Outlook: »

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MDT

Medtronic

$90.40

-3.28 (-3.50%)

06:48
11/20/18
11/20
06:48
11/20/18
06:48
Hot Stocks
Medtronic CEO says 'we are executing on multiple fronts' »

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JDWPY

JD Wetherspoon

$0.00

(0.00%)

06:47
11/20/18
11/20
06:47
11/20/18
06:47
Initiation
JD Wetherspoon initiated  »

JD Wetherspoon initiated…

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MATX

Matson

$40.86

-0.32 (-0.78%)

06:47
11/20/18
11/20
06:47
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06:47
Downgrade
Matson rating change  »

Matson downgraded to Hold…

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  • 11

    Dec

JEC

Jacobs Engineering

$72.96

-1.2 (-1.62%)

06:47
11/20/18
11/20
06:47
11/20/18
06:47
Earnings
Jacobs Engineering reports Q4 adj. EPS $1.31, consensus $1.24 »

Reports Q4 revenue $4.1B,…

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MDT

Medtronic

$90.40

-3.28 (-3.50%)

06:47
11/20/18
11/20
06:47
11/20/18
06:47
Earnings
Medtronic backs FY19 adjusted EPS view $5.10-$5.15, consensus $5.12 »

For fiscal year 2019, the…

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MDT

Medtronic

$90.40

-3.28 (-3.50%)

06:45
11/20/18
11/20
06:45
11/20/18
06:45
Earnings
Medtronic reports Q2 adjusted EPS $1.22, consensus $1.15 »

Reports Q2 revenue $7.5B,…

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  • 20

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TESS

Tessco

$11.11

-0.12 (-1.07%)

06:45
11/20/18
11/20
06:45
11/20/18
06:45
Upgrade
Tessco rating change  »

Tessco assumed with an…

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  • 04

    Dec

FB

Facebook

$131.62

-7.93 (-5.68%)

06:45
11/20/18
11/20
06:45
11/20/18
06:45
Periodicals
Singapore lawmaker blasts Facebook over refusal to take down post, Reuters says »

Singapore senior minister…

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  • 28

    Nov

ATV

Acorn International

$21.44

0.25 (1.18%)

06:44
11/20/18
11/20
06:44
11/20/18
06:44
Hot Stocks
Acorn International announces partnership with Shanghai Media Group »

Acorn International…

03/08/13
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SQ

Square

$63.00

-7.545 (-10.70%)

06:43
11/20/18
11/20
06:43
11/20/18
06:43
Recommendations
Square analyst commentary  »

Square price target…

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  • 26

    Nov

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    Dec

CBM

Cambrex

$47.67

0.41 (0.87%)

06:42
11/20/18
11/20
06:42
11/20/18
06:42
Hot Stocks
Cambrex to acquire Avista Pharma Solutions for approximately $252M »

Cambrex announced it has…

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QLYS

Qualys

$69.24

-5.355 (-7.18%)

06:41
11/20/18
11/20
06:41
11/20/18
06:41
Upgrade
Qualys rating change  »

Qualys upgraded to Buy…

03/08/13
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  • 20

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  • 09

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JD

JD.com

$21.09

-1.95 (-8.46%)

06:38
11/20/18
11/20
06:38
11/20/18
06:38
Downgrade
JD.com rating change  »

JD.com downgraded to…

03/08/13
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JD

JD.com

$21.09

-1.95 (-8.46%)

06:35
11/20/18
11/20
06:35
11/20/18
06:35
Periodicals
JD.com CEO says focus will be on strategy, new businesses, Yicai reports »

JD.com founder and CEO…

03/08/13
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HRL

Hormel Foods

$45.36

-0.535 (-1.17%)

06:35
11/20/18
11/20
06:35
11/20/18
06:35
Earnings
Breaking Earnings news story on Hormel Foods »

Hormel Foods sees FY19…

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  • 20

    Nov

TGT

Target

$77.13

-1.9 (-2.40%)

06:34
11/20/18
11/20
06:34
11/20/18
06:34
Earnings
Breaking Earnings news story on Target »

Target sees FY18 adj. EPS…

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  • 20

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TGT

Target

$77.13

-1.9 (-2.40%)

06:34
11/20/18
11/20
06:34
11/20/18
06:34
Hot Stocks
Breaking Hot Stocks news story on Target »

Target sees Q4 SSS up…

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  • 20

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MMS

Maximus

$63.91

-2.05 (-3.11%)

06:33
11/20/18
11/20
06:33
11/20/18
06:33
Earnings
Maximus sees FY19 revenue $2.95B-$3.0B, consensus $2.53B »

Sees FY19 EPS…

03/08/13
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  • 20

    Nov

TGT

Target

$77.13

-1.9 (-2.40%)

06:33
11/20/18
11/20
06:33
11/20/18
06:33
Earnings
Target reports Q3 adj. EPS $1.09, consensus $1.12 »

Reports Q3 revenue…

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  • 20

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    Mar

HRL

Hormel Foods

$45.36

-0.535 (-1.17%)

06:32
11/20/18
11/20
06:32
11/20/18
06:32
Earnings
Hormel Foods reports Q4 adj. EPS 51c, consensus 49c »

Reports Q4 revenue…

03/08/13
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  • 20

    Nov

MMS

Maximus

$63.91

-2.05 (-3.11%)

06:31
11/20/18
11/20
06:31
11/20/18
06:31
Earnings
Maximus reports Q4 revenue $558.4M, consensus $587.58M »

Reports Q4 EPS 71c vs.…

03/08/13
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  • 20

    Nov

HSDT

Helius Medical

$8.02

-0.08 (-0.99%)

06:31
11/20/18
11/20
06:31
11/20/18
06:31
Upgrade
Helius Medical rating change  »

Helius Medical upgraded…

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WWD

Woodward

$79.45

-2.46 (-3.00%)

06:30
11/20/18
11/20
06:30
11/20/18
06:30
Upgrade
Woodward rating change  »

Woodward upgraded to Buy…

03/08/13
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  • 07

    Dec

QEP

QEP Resources

06:27
11/20/18
11/20
06:27
11/20/18
06:27
Upgrade
QEP Resources rating change  »

QEP Resources upgraded to…

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