Aegon drops after Spruce Point Management report

Aegon

16/12/2024 14:45

Dec 16 (Reuters) - Amsterdam-listed shares in Aegon
 AEGN.AS  shed around 6% after Spruce Point Management said on
Monday "it and/or its clients" have a short position in the
Dutch insurer and published a report on its North American unit,
World Financial Group (WFG).
    The New York-based investment firm said its estimates
suggested Aegon's share price could be overvalued, with a
potential 25%-50% "long-term downside risk."
    Aegon did not immediately respond to emailed and phone
requests for comment.
    Aegon's shares dropped to their lowest price since October.
If losses hold, they will see their biggest one-day loss since
March 2023.


 (Reporting by Alban Kacher
Editing by Tomasz Janowski)
 ((alban.kacher@thomsonreuters.com))