Free cash flow for 2025 totaled EUR 829 million , consistent with the company’s target. Aegon proposed a final dividend of EUR 0.21 per common share, bringing the full-year dividend to EUR 0.40 per share, up 14% from 2024 and in line with its stated target. Management also pointed to EUR 400 million of share buybacks executed in the second half of 2025 and said it has begun the first half of a new EUR 400 million buyback program for 2026 that was announced at its 2025 Capital Markets Day.CEO Lard Friese sai ...

Shares of Etsy Inc (NYSE:ETSY) rose sharply in pre-market trading after the company entered into an agreement to sell Depop.Etsy and eBay (NASDAQ:EBAY) have entered into a definitive agreement under which eBay will acquire Etsy's fashion marketplace Depop for approximately $1.2 billion in cash.Etsy shares jumped 15.5% to $50.86 in the pre-market trading session.Here are some other stocks moving in pre-market trading.GainersLosersPhoto via Shutterstock ...

Aegon (NYSE:AEG) H2 2025 Earnings call February 19, 2026 03:00 AM ET Company ParticipantsDavid Barma - Executive Director of Equity ResearchDuncan Russell - CFOFarooq Hanif - Head of European Insurance Equity ResearchIain Pearce - Executive Director of Insurance Equity ResearchJason Kalamboussis - Executive DirectorLard Friese - CEOYves Cormier - Head of Investor RelationsConference Call ParticipantsFarquhar Murray - Senior AnalystMichael Huttner - Insurance Equity Research AnalystNasib Ahmed - European Ins ...

Financial Data and Key Metrics Changes - Operating capital generation before holding and funding expenses increased year-over-year to EUR 1.3 billion, ahead of target [4] - Operating results increased by 15% compared to 2024, reaching EUR 1.7 billion [5] - Free cash flow for the full year 2025 was EUR 829 million, consistent with the target [5] - Final dividend proposed at EUR 0.21 per common share, resulting in a full year 2025 dividend of EUR 0.40 per share, up 14% from EUR 0.35 per share in 2024 [5] - Operating results in the second half of 2025 increased by 11% year-on-year to EUR 858 million [14] Business Line Data and Key Metrics Changes - In the U.S., new life sales increased by 10% compared to 2024, with a 6% increase in annuity sales [9] - The number of licensed agents in the U.S. increased by 11% to nearly 96,000 [8] - Aegon UK reported net deposits driven by onboarding new schemes and regular contributions from existing schemes [10] - Aegon Asset Management generated positive third-party net deposits, although at a lower level than last year [11] Market Data and Key Metrics Changes - The U.S. operating result increased by 5% in euros, or 14% in U.S. dollars, due to business growth and favorable variances [16] - The operating results of the UK increased, benefiting from business growth and favorable markets [17] - In the international segment, new sales contributed to growth, with higher new life sales reported in Brazil, Spain, and Portugal [11] Company Strategy and Development Direction - The company is making progress with preparations for relocation to the U.S. and is implementing U.S. GAAP [7] - Aegon aims to grow the operating result of the group by around 5% per year from the EUR 1.5-EUR 1.7 run rate in 2025 [18] - The strategic review of Aegon UK is ongoing, with updates expected before summer [47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting growth ambitions for 2026 and 2027, supported by strong commercial performance [26] - The company noted that the retirement business in the U.S. is performing well despite net outflows due to market trends [92] - Management acknowledged the impact of market conditions on financial assets and the need for ongoing management actions [60] Other Important Information - The group solvency ratio remains robust at 184% [16] - Cash capital at holding decreased to EUR 1.3 billion at the end of 2025, consistent with the aim to reach around EUR 1.0 billion by the end of 2026 [25] - The company executed EUR 400 million of share buybacks in the second half of 2025 [6] Q&A Session Summary Question: Sustainability of Operating Profit - Management indicated that the second half operating result was a reasonable representation of underlying figures, benefiting from strong markets [32] Question: ASR Stake Ownership - Management confirmed no change in their position regarding the ASR stake, stating it would not be influenced by redomiciliation to the U.S. [33] Question: OCG Conditions - Management highlighted positive mortality and morbidity variances and high new business strain as factors affecting OCG [38] Question: WFG Performance - Management explained that lower margins in WFG were due to investments in leadership, technology, and training to support agent productivity [41] Question: Legal Settlements - Management confirmed that legal settlements were included in the $230 million of charges and are awaiting court approval [46] Question: Investment Credit Concerns - Management noted that ECL movements were relatively small and benign, with no significant concerns about further downgrades [76]

2H 2025 Results Lard Friese Duncan Russell Chief Executive Officer Chief Financial Officer February 19, 2026 2 2 Key messages 1. Operating capital generation (OCG) before Holding funding and operating expenses Distribution WFG licensed agents (number in thousand) 36 FY24 37 FY25 86 96 Multi-ticket agents Transamerica's market share 66% Savings & Investments Net deposits mid-sized plans FY24 FY25 0.6 1.1 Protection Solutions New individual life sales 473 617 FY24 FY25 3 1. Refers to WFG sales in the US for L ...

Core Insights - Aegon's 2025 results reflect the effectiveness of its strategy, achieving or surpassing all financial targets set during the 2023 Capital Markets Day [3] - The company generated EUR 1.3 billion in operating capital, exceeding its EUR 1.2 billion target, and reported EUR 829 million in free cash flow, aligning with its target of approximately EUR 800 million for 2025 [4][6] Financial Performance - Aegon reported a full-year IFRS operating result of EUR 1.7 billion, marking a 15% increase compared to 2024 [4] - The net result for 2025 was EUR 980 million, a 45% increase from 2024, while the net result for the second half of 2025 was EUR 375 million, down from EUR 741 million in the second half of 2024 [7] - The operating result for the second half of 2025 was EUR 858 million, an 11% increase from the second half of 2024, driven by growth across all business units [7] Capital Management - Aegon returned EUR 1.1 billion to shareholders through dividends and share buybacks in 2025 [6] - A proposed final dividend of 21 eurocents per share for 2025 represents an 11% increase compared to the final dividend of 2024, meeting the target of EUR 0.40 for the full year [6][7] Business Unit Performance - Transamerica's distribution network expanded to over 95,000 licensed agents, achieving a record 30% increase in individual new life sales in 2025 compared to 2024 [5] - The asset management business generated EUR 1.0 billion in net third-party inflows in 2025, while the UK Workplace Platform saw GBP 2.4 billion in net inflows [5] Strategic Focus - Aegon is focused on executing plans outlined at the 2025 Capital Markets Day, including relocating its head office and legal seat to the US [7]

Group 1 - Aegon (AEF) is highlighted for its strong yield to worst and the safety of its financial instruments, indicating a favorable investment opportunity in the finance and insurance sector [1] - Denislav Iliev, an experienced day trader with over 15 years in the field, leads a team of 40 analysts focused on identifying mispriced investments in fixed-income and closed-end funds [2] - The investing group Trade With Beta offers features such as frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of over 1200 equities, IPO previews, and hedging strategies [2]

Group 1 - Aegon Ltd. (NYSE:AEG) is considered one of the best undervalued stocks to buy under $10, with recent rating updates indicating a positive outlook [1] - Berenger Bank reiterated a Buy rating on Aegon Ltd. on January 16, setting a price target of €7.40, while Morgan Stanley cut its price target to €7 from €7.30 but maintained an Overweight rating [1][2] - Deutsche Bank resumed coverage of Aegon Ltd. on January 7 with a Hold rating and a price target of €7.30, following the announcement of Aegon UK's expansion into private market assets for over 375,000 members [2] Group 2 - Aegon LifePath is set to invest in a diverse range of asset classes starting summer 2026, including protected equities and diversified global private markets, accessed through Long-Term Asset Funds managed by selected fund managers [3] - The initiative to expand private market assets builds on the successful integration of such assets for 700,000 members of Aegon UK's largest workplace default fund, the £14 billion Universal Balanced Collection [3] - Aegon Ltd. operates in various segments including Americas, The Netherlands, the United Kingdom, International, Asset Management, and Holding and Other Activities [4]

Core Viewpoint - The article discusses the best undervalued stocks to buy under $10, highlighting the potential for investment opportunities in this price range. Group 1: Market Insights - Goldman Sachs' Ben Snider expects the broadening of equity market returns to continue, indicating a different perspective on US equities compared to other markets [2][3] - The S&P 500 generated a total return of 18% last year, which was considered extraordinary, yet it was one of the worst-performing global markets [2] - Snider anticipates continued diversification in equity market returns, suggesting that US equities can still perform well [3] Group 2: AI Trade and Earnings - The focus for the market this year is on visible near-term earnings, particularly in the context of the AI trade [4] - Infrastructure spending has been a key driver of the AI trade due to visible earnings, but trends are shifting as companies outside the tech sector begin to show earnings accretion from AI [4] Group 3: Methodology for Stock Selection - The article outlines a methodology using stock screeners to identify companies with specific criteria, including a stock price below $10 and a forward P/E below 15 [9] - The top 10 stocks were selected based on the highest number of hedge fund holders as of Q3 2025, with data sourced from Insider Monkey's database [7] Group 4: Company Highlights - **Lloyds Banking Group plc (NYSE:LYG)**: - Reported £1.4 billion of annualized additional revenues from strategic initiatives in 2025, with management confident in reaching £2 billion by the end of 2026 [10][11] - Underlying net interest income was £13.6 billion, up 6% from 2024, with a banking net interest margin of 3.06% [11] - GenAI delivered around £50 million of value in 2025, with expectations of over £100 million in 2026 [12] - **Aegon Ltd. (NYSE:AEG)**: - Received multiple rating updates in January, with a Buy rating and a price target of €7.40 from Berenger Bank [14] - Aegon UK plans to expand access to private market assets for over 375,000 members of its second-largest workplace default fund [15][16] - The initiative will invest across various asset classes, building on previous successful integrations of private markets [16][17]

Group 1 - The establishment of a new insurance asset management company, Aegon Asset Management Co., Ltd., has been announced [1] - The legal representative of the new company is Zhang Mengjiao, and it has a registered capital of 250 million yuan [1] - Aegon Asset Management is wholly owned by Aegon Ltd., a global life insurance group based in the Netherlands [1]