Aegon drops after Spruce Point Management report (updated)

Aegon

16/12/2024 16:05

(Adds comments from Aegon, updates share move)
       Dec 16 (Reuters) - Amsterdam-listed shares in Aegon
 AEGN.AS  shed around 5% 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."
    Responding to a Reuters request for comment, an Aegon
spokesperson said the company had nothing to say at this moment.
    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 and Dimitri Rhodes
Editing by Tomasz Janowski)
 ((alban.kacher@thomsonreuters.com))