Aviva Share Discussion Threads

[mark1000] 11/4/2021 02:40

Am I right in saying that with this recently announced redemption of 450M 6.625% fixed and floating loan we are going at speed in reaching the agreed 3bn loan reduction over 2 years we must be around 2.4 to 2.5bn AB is moving quickly and I expect to see that carried over in the return of funds to shareholders. Those talking about the return over 2 to 3 years I think will be proved totally wrong within 12 months being probable given the disposals have acheived legal completion and the funds received. Remember AB has a significant shareholding will she want to wait 2 or 3 years for that special div or what ever to be declared?

[lauders] 11/4/2021 01:12

spud 8 Apr '21 - 11:34 - 8127 of 8172 0 5 0

Shares I love: Aviva

Life insurance stocks offer cheap valuations and growing earnings
April 7, 2021
By Leonora Walters


Investors avoided life insurers last year because of concerns on economic and Brexit risks.

Good to see the fact sheet for the Fidelity Special Values fund mentioned in this piece here:

The Fidelity Special Situations Fund also holds both:

AV. and PHNX are two of my holdings as well. Just not quite in the same league as Fidelity ;-)

[cjac39] 10/4/2021 19:59

i wasnt sure it was 20-30% below book value. poland helps but i think its closer to bv. ive been interested in the discussion on buyback vs special vs more progressive divi. roughly speaking my guess is that all 3 would probably be accretive. one thing ive only just found out is uk income funds are not allowed to count specials towards their income when they still try to qualify as income funds under ia rules. therefore sometimes they are more encouraging on normal divs rather than specials or buybacks. one other side of the bb discussion is if for eg av has 1.6-1.8 op income post sales and a divi policy of c0.8-0.9 then buying back shares does improve their long term ability to cover dividends as share count goes down.

[pdosullivan] 10/4/2021 19:35

I can't either, hence why I'm long the stock!

[spud] 10/4/2021 11:00

I'd like to pay zero attention but they do move prices. They are basically legalised Market manipulators. spud

[dr biotech] 10/4/2021 10:17

Funny that now the price is above 400 all the brokers have increased their targets. Also the fees earned from buybacks are considerable... nows not the time to issue a negative note.

Brokers opinions are as valid as anyones, but I don’t pay a lot of attention to them

[salver2] 10/4/2021 10:16

Can anyone explain why these shares trade twenty to thirty percent below book - you would have thought that after all these sales in excess of book that these shares should be worth a fiver at least?

[pdosullivan] 10/4/2021 09:14

I have not seen the note in question but wonder if the delta between the 180% reported and the 200% cited is explained by pro-forma adjustments for recent disposals at higher than book value prices?

[wskill] 10/4/2021 09:03

Of course the likes JPM will prefer buybacks they will manipulate the share price of Aviva until their hearts content easy money no risk.

Even better if it’s £4 billion such fun for the hedge funds.

[devonbeachbum] 10/4/2021 08:52

@DrB - The JP Morgan rec was good on the whole but they seemed to go off on one when it came to returning capital. Their claim of a 200% Solvency II ratio was not the same as quoted by Amanda Blanc: “As we simplify Aviva's portfolio, we will deliver further value to shareholders by returning excess capital above 180% solvency cover ratio, once our debt leverage target ratio has been reached.” Unless I'm getting this wrong that's a sizable difference.

[edmundshaw] 09/4/2021 21:58

£450m 6.625 per cent Notes due 2041 cancelled... that is handy. When you consider the loss of income from EU subsidiaries, you can offset some of that with the savings on quite pricey debt...

[edmundshaw] 09/4/2021 21:22

Aviva Investors, one of the U.K.'s largest investors, says some companies "have failed to back up their words with action" in the wake of the Covid pandemic, and has warned it will vote against boards that have rewarded undeserving bosses with excessive pay and bonuses.

The 355 billion pound ($490.79 billion) asset manager opposed 43% of pay packages globally last year and has vowed to adopt an equally tough stance at this year's round of annual shareholder meetings. etc etc

Good to see this. It is an attractive to increasing numbers of investors who care about ESG standards... but will it help Aviva's bottom line??

[spud] 09/4/2021 19:48

Carp - When trading a range (20p in this case) as Tesco would say, ‘Every little helps’.

spud

[whatsup32] 09/4/2021 17:51

It’s not £4

[carpingtris] 09/4/2021 17:34

You penny pinchers.. what's wrong with 404p! ;)

[whatsup32] 09/4/2021 17:31

I may join your party Monday if it’s around £4

[eurofox] 09/4/2021 17:21

Still have a just-sub-400 buy order placed. Some are bound to want to have a go at breaking it.

[spud] 09/4/2021 17:18

Looks as if 400p is the floor (not surprising considering the effort required to break it on the way up). spud

[whatsup32] 09/4/2021 17:12

Eurofox,

Thank you for info.

[klotzak] 09/4/2021 13:22

I'd have filled, but I must wait up to 5 days for my already cleared funds to arrive from AJ Bell. Then it can go into my ISA and I can re-invest it. They are rubbish as a broker.

[eurofox] 09/4/2021 08:37

well done spud - i have lined-up a sub 400 order as well

[spud] 09/4/2021 08:30

Hopefully mine has too.

spud

Edit : Yes filled.

[eurofox] 09/4/2021 08:28

filled at 401

[eurofox] 09/4/2021 08:22

Hi Whatsup32,
Sorry for not getting back to you earlier. I hesitate to advise use of level 2 to anyone unless they are prepared to (a) spend a fair amount (at face value) on the service, (b) have a good understanding of the orderbook mechanisms (a lot of users have Direct Market Access and perhaps even APIs), (c) understand the ways in which it can be used to send false information (e.g. quote stuffing) (d) are alive to the psychology of “power users” and (e) deal in large enough quantities to make the time and margin of price improvement better than would otherwise be achieved. It took me 5 years to interpret the fast-moving data properly, and you may need to spend more time per day than you would be prepared to sacrifice to get the results you want. It works for me now and lockdown means there is plenty of time available. All I can say is I renew each year without hesitation because after the fees for it, there is a clear P&L benefit.