Morgan Stanley downgraded Aegon to Equal Weight citing stretched valuations in European insurance despite unchanged EUR 7 price target.
Morgan Stanley downgraded Aegon Ltd. (NYSE:AEG) to Equal Weight from Overweight on May 15, keeping its price target at EUR 7. The firm cited valuation concerns, describing European insurance valuations as “looking fuller.” No changes were made to the price target despite the downgrade.
Aegon, a financial services holding company, operates in insurance, long-term savings, banking, and asset management. The downgrade follows broader sector valuation assessments rather than company-specific developments. AEG shares have been included in lists of stocks under $15 with potential upside.
The company also announced leadership changes, with Jennifer Palmieri set to join as Chief Human Resources Officer on June 29, 2026, succeeding Holly Waters, who retires on June 1, 2026.