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Share Name Share Symbol Market Type Share ISIN Share Description
Aviva Plc LSE:AV. London Ordinary Share GB0002162385 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  4.90 1.19% 417.30 418.30 418.50 418.60 409.70 411.30 6,805,397 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 46,569.0 2,613.0 70.2 5.9 16,394

Aviva Share Discussion Threads

Showing 34276 to 34298 of 34300 messages
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DateSubjectAuthorDiscuss
13/6/2021
16:24
whatsup32 We can’t know for ANY share that buybacks caused the share to go up or down. Many shares rocket with and without buybacks, and especially in market falls like 2008, and March 2020, many shares crash regardless of whether or not and to what extent, they bought back. Had you read the post about the Whitbread buyback you will have seen how just like Aviva now, they sold off a key business (Costa) and returned the entire £2 billion or so proceeds to their shareholders via buybacks. The share subsequently fell heavily and straight away so that so called buyback reward actually gave shareholders zilch!
kenmitch
13/6/2021
14:35
Exactly! You've hit the buyback nail on the head. spud
spud
13/6/2021
14:33
How would the share price drop to 300p if they paid a 100p special? Surely the price would spike to around a fiver?. Anyway, that is the least likely scenario. Cevian are talking about doubling the dividend in 3 years so the only way that could happen is with a 30% reduction in the share count.
father jack1
13/6/2021
14:11
As regards the debate on buybacks...the effect on the share price will be with how growth turns out with respect to market expectations. All buybacks will do is accentuate the movement. If Aviva gains a higher rating then obviously with buybacks a lower number of shares will boost the share price If growth expectations aren't met, then buybacks will only enable the institutions an avenue to dispose of their unwanted shares.
yf23_1
13/6/2021
12:22
Just seen a report discussing AI firing a number of fund managers. Excellent. The Heads of this and that do nothing as useful as picking a stock.Global Head of this and that only set up useless meetings between themselves and fill out expenses claims. Subcontract the lot to Schroders or Blackrock and take a percentage of the profit.50 million profit on this operation is pathetic. So called transformation costs in this unit must come to a billion pounds over the last 20 years. Add in all the costs as compo for front running and we are talking serious dosh.
anthony100
13/6/2021
12:13
Aviva roumoured to be sacking fundmmanagers Responsibility lies at the top though there are many on this board who disagree I would start at the top and cut a swathe through those overpaid directors who sanctioned the withholding of the declared dividend That in my opinion is the main reason why Aviva has underperformed so badly As I have stated trust has been destroyed and the culprits are looking to shift the blame away from themselves They should be held to account for their servile behaviour and betrayal of thousands of small investors and cash strapped pensioners It was and is indefensible behaviour I will continue to condemn notwithstanding the ab cheerleading squad
jubberjim
13/6/2021
11:09
Pay down £3bn debt, pay a special of about 100p (£4bn) - assuming the share price drops by about the same amount (to 300p) we then have a solid company paying around 7% with a low PE. --- Seems cost cutting is already underway. Not sure where the future is for funds. I hold several, but they are mostly smaller companies where I think a manager can outperform the relavent index https://www.thisismoney.co.uk/money/markets/article-9679453/Aviva-sacks-fund-managers-cut-costs.html
dr biotech
13/6/2021
11:06
£8.70p is a valuation given by cevian , Kenmitch, I haven’t checked Whitbread but presume buy back was a flop as it was in many other cases , however that doesn’t mean it will be a flop for Av. I maintain if share price is say 40% below value then there is good reason to use excess cash to do a buy back. Benefits all. Microsoft have been buying back for past 15 years and it’s proved a great success for all concerned. As someone looking to get out (held 2 years now) I understand a special div will give an instant boost to share price and give me an opportunity to get out. So that suits me fine. However correct decision for management is a buyback .
whatsup32
13/6/2021
10:47
cjac39 The same question.What about that Whitbread (one of so many similar) example/s in post 8808? The theoretical case for buybacks looks strong, and most fans of them focus on the theory and ignore the facts.
kenmitch
13/6/2021
09:59
A much debated topic. In difference to many on here I think buybacks for aviva do make sense up to 20-40% over book value as it’s demonstrably a good investment of our shareholder funds. 8.70 is not a valuation I’d recommend as a target and was more a marker for how to get to the cevian price. However is it worth more than its current and a decent premium to BV, for sure. From memory I think Buffett does the same thing with BRK up to 140% of BV as that’s an accounting baseline. Note also interests are skewed. Income funds who are large holders of AV get no benefit from specials but greatly enjoyed enhanced forward divis from buybacks.
cjac39
13/6/2021
09:51
whatsup32 It would be interesting to know your thoughts on the disastrous Whitbread buyback I posted about in post 8808 and if and why you don’t think the same could happen with Aviva buybacks.
kenmitch
13/6/2021
09:44
Seems logical to me. I'd be genuinely interested to hear any counter arguments.
bull19
13/6/2021
09:37
SP valuation £8.70 I know we argue this point all the time but if I was management given 50% discount of valuation (SP £4.18) it makes perfect sense to do a buyback .
whatsup32
13/6/2021
07:46
I don't but this Cevian move, and the market does not either. They don't have enough influence with 5%, other than a bit of noise and press releases.
mountpleasant
12/6/2021
19:02
interesting article that speculates that AV could make further changes such as selling books of life insurance business closed to new customers. The Canadian unit might also attract buyers... Activist Cevian takes Aviva stake, seeks 5 bln stg capital return.. Carolyn Cohn June 8, 2021 Activist investor Cevian Capital said Aviva should return 5 billion pounds ($7.08 billion) of excess capital in 2022 after revealing it has built up a near 5% stake in the British insurer, putting new CEO Amanda Blanc under pressure to accelerate changes. Aviva, which has sold eight businesses since the appointment of Blanc as CEO in July 2020, said last month it had raised 7.5 billion pounds from disposals and planned to return money to shareholders, without putting a figure on it. "Aviva has been poorly managed for many years, and its high-quality core businesses have been held back by high costs and a series of bad strategic decisions," Christer Gardell, managing partner and co-founder of Cevian said in a statement. Analysts have said the insurer would have between 3.7 billion and 6.6 billion pounds of excess capital following the completion of the asset sales. Aviva should have a value of more than 8 pounds per share within three years, and more than double its dividend to 45 pence, Cevian said. Aviva's shares are currently trading above 4 pounds a share and rose 3.5% on the Cevian statement. Cevian also said it saw scope for further cost-cutting, totalling at least 500 million pounds by 2023. Aviva outlined a strategy last year including 300 million pounds in cost cuts by 2022. Aviva is shifting focus to the key markets of Britain, Canada and Ireland since the asset sales. Industry sources have speculated the insurer could make further changes such as selling books of life insurance business closed to new customers. The Canadian unit might also attract buyers, they said. "Aviva has made significant strategic progress over the past 11 months and we remain sharply focused on further improving our performance," an Aviva spokesperson said in an emailed statement. "We regularly engage with investors and welcome any thoughts which move us towards our goal of delivering long term shareholder value." Cevian bought a stake in rival insurer RSA in 2013 which it built up to 15%, culminating in the completion last week of RSA's sale to Denmark's Tryg (TRYG.CO) and Canada's Intact Financial (IFC.TO). Cevian started building up the stake in Aviva several months ago, with relations cordial between the investor and Aviva's management, according to two sources familiar with the matter. Chairman George Culmer and CEO Blanc are "committed to...delivering substantial shareholder value", Cevian said in the statement.
richie1218
12/6/2021
16:51
RCT2 - yes indeed, kept meaning to get on board, then deciding against as I prefer exposure to REITs & PE trusts. Still, been a good year so far; and hopeful that AV. will contribute to further portfolio growth.
skyship
12/6/2021
10:19
i couldnt remember the sotp so had another go this am. would be great to tempt WBA back on to give more detail to the GI. OF 25.8 debt 8.3 Life Goodwill (25-50% of OF * 13.7) 6.9 GI (read across from DL) 9 less GI Own funds 2.3 AGI (Jupiter pe * 0.85) 1.2 less AGI own funds 0.5 Savings (AJ Bell * Op profit 119) 4.5 less guesstimate OF 1 Net 35.3 SP equiv £8.7 lots could be wrong with this but not outlandish to throw out £8 targets
cjac39
12/6/2021
06:39
Skyship, you are a bit late to the party! Got mine at the start of January.
rcturner2
11/6/2021
23:24
Yep, in the vast majority of cases, buybacks are a complete waste of energy, time and money. Although I’m sure the Executives who’s bonuses are based upon eps would disagree. Stock buybacks often benefit big shareholders the most; and frequently that means Executives who hold stock options. When the buyback boosts the stock price, often temporarily, that rise may help the stock hit a target price the managers need to exercise their options. The managers can then quickly resell their stock and pocket their profits. So company management is enriched, while the company’s research and development, marketing, hiring, and other departments are impoverished by the move. Managers may also benefit from a buyback because their bonuses may be tied to hitting a particular earnings-per-share figure. Fewer shares mean a higher EPS number. spud
spud
11/6/2021
17:22
Going over old ground but buybacks don't benefit shareholders , i.e. for holding shares , they benefit ex-shareholders for selling them , on the day that there is more demand than supply thus supporting the price of those transactions. We know that when the buyback demand dries up the share price usually falls and also the Net Asset value of the company has fallen saying goodbye to the cash. To illustrate the supply and demand equation - we all know when there is a "share overhang" or an excess supply from a large willing seller the share price will fall until they have sold out and then often rises after. A large buyback just temporarily inflates the price so the company overpays. Most buybacks are therefore done at the top of the market. Anyone who is looking to remain a shareholder say for income , gets nothing. Give us a long term higher dividend , it will support the share price for longer via the dividend valuation model - higher yield ; and anyone that is desperate to sell instead , as if they were looking to sell into the buyback , can just sell into a better market anyway. Reward shareholders not carpetbaggers!
fenners66
11/6/2021
16:04
oggyrocks Agree 100% i was relying on that divi and i too would like to know what become of it,surely it should be paid now!!!!!
oldfellowme1
11/6/2021
15:56
oggyrocks Stop fretting about the lost 2019 Final dividend...I am afraid it is long gone and the cash returned to the communal,now overflowing, pot ......we did get a token 6p of it much later in 2020
1robbob
11/6/2021
14:48
Hi Ken - glad to be in good company here :)
skyship
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