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AV. Aviva Plc

474.00
-1.60 (-0.34%)
11 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aviva Plc LSE:AV. London Ordinary Share GB00BPQY8M80 ORD 32 17/19P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.60 -0.34% 474.00 4,438,019 16:35:15
Bid Price Offer Price High Price Low Price Open Price
475.10 475.30 478.30 473.10 473.70
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Insurance Carriers, Nec 41.43B 1.09B 0.4053 11.72 12.73B
Last Trade Time Trade Type Trade Size Trade Price Currency
17:00:25 O 664 477.113 GBX

Aviva (AV.) Latest News (28)

Aviva (AV.) Discussions and Chat

Aviva Forums and Chat

Date Time Title Posts
11/12/202422:29AVIVA PLC 20,474
06/12/202409:52Aviva25,527
20/11/202415:49AVIVA (MODERATED)134
16/3/202417:45AV. for alternative views11
13/3/202417:45No-Raj Union ?2

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Aviva (AV.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-12-11 17:00:30477.116643,168.03O
2024-12-11 17:00:30476.786643,165.81O
2024-12-11 16:48:27475.5042199.71O
2024-12-11 16:47:02474.9813,18062,602.36O
2024-12-11 16:42:27476.0421,680103,205.04O

Aviva (AV.) Top Chat Posts

Top Posts
Posted at 11/12/2024 08:20 by Aviva Daily Update
Aviva Plc is listed in the Insurance Carriers, Nec sector of the London Stock Exchange with ticker AV.. The last closing price for Aviva was 475.60p.
Aviva currently has 2,677,089,316 shares in issue. The market capitalisation of Aviva is £12,721,528,430.
Aviva has a price to earnings ratio (PE ratio) of 11.72.
This morning AV. shares opened at 473.70p
Posted at 06/12/2024 13:28 by stemis
Interesting that, if you buy DLG shares at the current share price of 255p, you get just over half your money back on takeover, plus the rest in AV. shares at an effective price of 420p compared to the current share price of 490p.
Posted at 06/12/2024 08:33 by spob
.

Possible Offer = 129.7p cash + 5p divi + (0.2867 x Aviva share price)


Based on 489.3p per Aviva share, this equals 275p per DLG share (49% cash)



This represents a premium of:

o 73.3% to the closing Direct Line share price on 27 November 2024 (being the last closing share price before the offer period commenced); and

o 49.7% to the six month volume-weighted average Direct Line share price to 27 November 2024.
Posted at 06/12/2024 07:01 by skinny
Aviva and Direct Line announce that they have reached preliminary agreement on the financial terms of a potential acquisition of the entire share capital of Direct Line by Aviva (the "Proposal").



Based on Aviva's last closing share price before the offer period started, being 489.3 pence per Aviva share, the Proposal represents total consideration valued at



275 pence per Direct Line share



to be delivered as:

o 129.7 pence per Direct Line share in cash, funded through Aviva's internally available cash resources;

o 0.2867 new Aviva shares per Direct Line share; and

o dividend payments of up to 5 pence per Direct Line share in aggregate (the "Permitted Dividend"), to be paid (subject to the approval of the Board of Direct Line) prior to completion.


This represents a premium of:

o 73.3% to the closing Direct Line share price on 27 November 2024 (being the last closing share price before the offer period commenced); and

o 49.7% to the six month volume-weighted average Direct Line share price to 27 November 2024.
Posted at 04/12/2024 18:56 by t-trader
Aviva needs to be careful they don’t overpay. Personally I thought 250 was a fair price considering DLG was languishing in the 150’s. Anything above another 20p on the offer will likely negate the benefits of the acquisition imo

In the meantime AV. Share price will hold around this level or lower until either another bid materialises or AV. walks away. Personally, not a massive fan of share dilution to make an acquisition but I trust Aviva & Amanda Blanc to make the right decision in respect of both sets of shareholders.

Question is how greedy will DLG be? If a 2nd offer of say 265-270 does materialise, will it be enough? I think if DLG rejected again, it would be in the best interest of Aviva and its shareholders to walk away.

Sooner this is sorted out, the better!
Posted at 30/11/2024 12:43 by pete160
The Belgians share price has improved because they dropped their bid for dlg.
If they re-engage, their price will drop again, and possibly by more if they get into a bidding war with Av.
Posted at 30/11/2024 11:13 by whatsup32
Failed Belgian offer must have hissed of many DLG holders. Seeing share price drop from 230p ish to near 150p must have hurt.
I suspect they won't want to miss this opportunity and will back Av t/o.
If I was CEO of DLG I would encourage Belgians to comeback and show interest.
Belgian offer is currently better for DLG as their share price has gone up.
Pleased that our share price hasn't moved , can only presume market thinks there is value here even with t/o
Posted at 28/11/2024 16:46 by cwa1
Can an offer at a near-60 per cent premium to the market price substantially undervalue a company? 

That is what Direct Line Group’s board maintains. The UK insurer rejected a £3.3bn offer from Aviva which values its shares at 250p, or at a 57.5 per cent premium to Wednesday’s closing price. Its position nods to the perceived disconnect between share prices on the beleaguered UK stock market and underlying value. But more than anything, it looks like a punchy negotiating tactic. 

Direct Line does have a valid conceptual point. It is true that, in the UK, the extra value that a buyer needs to offer to win backing for a takeover has been rising. In local parlance, 40 is the new 30 — indicating that the benchmark premium required to even merit attention has moved up by some 10 percentage points simply to reflect the FTSE’s perceived undervaluation. ;

On top of this, companies attempting a turnaround can be particularly hard to value. Direct Line was blindsided by a post-Covid surge in the cost of car repairs. Its new-ish chief executive Adam Winslow, hired from Aviva in 2023, has a plan to rebuild margins. But so far, the market has not given him much credit. 


Whether one buys into Winslow’s turnaround or not makes a difference. Before Aviva’s offer, Direct Line was trading at a meagre 6.2 times two-year forward earnings, on S&P Capital IQ estimates. Putting it on Aviva’s own multiple would imply a value of more than 220p per share — on which basis the latest bid premium would look much less compelling. It is worth noting that Direct Line successfully defended itself from a 239p-a-share bid from Belgian insurer Ageas earlier this year. 

Such considerations may, in part, explain Direct Line’s strongly-worded rebuttal. But clever tactics play just as big a role.

Aviva can clearly extract a lot of value from merging with Direct Line. Strategically it is a good fit, turning Aviva into a top player in personal and motor insurance in the UK. The larger insurer might be able to lop off 20 per cent of Direct Line’s administration costs, think Berenberg analysts, which — taxed and capitalised — would yield an extra £1.1bn of value. On top of that, a tie-in with a larger and more diversified insurer would allow Direct Line to release some regulatory capital.

Direct Line is probably betting that, given the juicy savings on offer, it can squeeze Aviva for a little more before it lets it into the tent. Its shareholders, who bid up the stock by more than 40 per cent on Thursday, will be hoping the insurer has not overplayed its hand.
Posted at 28/11/2024 06:05 by muscletrade
Direct Line rejects GBP3.3 billion bid approach from Aviva
November 27, 2024 at 07:30 pm
Share
(Alliance News) - Aviva PLC on Wednesday said it had made an approach to buy Direct Line Insurance Group PLC, which had been rejected.

London-based Aviva said the cash and shares proposal was made last Tuesday. Direct Line shareholders would be entitled to receive 112.5 pence per share in cash, and 0.282 new Aviva shares per Direct Line share.

Based on Aviva's share price on the day before the proposal was submitted, the plan valued Direct Line at 250p per share or around GBP3.26 billion.

Aviva said it was a "highly attractive" and compelling" offer with "high execution certainty", which also met Aviva's strict financial criteria for acquisitions.

But Aviva said Direct Line on Tuesday had rejected the proposal as substantially undervaluing Direct Line, and has declined to engage further with Aviva.

In a statement, Direct Line, the Bromley, England-based motor and home financial services group, said it had concluded that the plan was "highly opportunistic and substantially undervalued the company."

"The board has considerable conviction in the capabilities of our newly established leadership team and stands firmly behind their delivery of our strategy. Under this strategy, the company continues to make early progress towards our financial targets, and expects to deliver attractive growth in profitability, capital generation and shareholder returns," Direct Line stated.

In March, Ageas AG withdrew a proposed bid for Direct Line after failing to secure the backing of its UK peer.

The Belgian insurer had made two proposals to buy Direct Line, but its advances were rejected. The two approaches valued each share in Direct Line at 233p and 239p per share respectively.

Direct Line rejected both, describing them as "uncertain" and "unattractive", significantly undervaluing its future prospects.

Direct Line has undertaken a strategic revamp under the stewardship of Chief Executive Adam Winslow, who the firm poached from potential suitor Aviva.

Aviva believes the acquisition would be consistent with its strategy to accelerate growth in its UK businesses and further pivot the group towards capital-light business lines.

The acquisition would expand Aviva's presence in the attractive UK Personal Lines market. In addition, the acquisition would allow Direct Line customers to benefit from Aviva's breadth, scale and financial strength.

Further, a deal would deliver "material cost and capital synergies, incremental to Direct Line's existing cost savings programme, Aviva stated.

Aviva said it remains committed to delivering growing dividends and sustainable capital returns to its shareholders.

Aviva closed 1.6% higher at 489.50 pence on Wednesday. Direct Line closed 0.2% lower at 158.70p.

By Jeremy Cutler, Alliance News reporter
Posted at 28/11/2024 05:33 by tuftymatt
Yes the AV. price rising yesterday and DLG not does show how this was kept all in house and didn't leak out for once.

Agree AV. will fall a bit and DLG should jump at the open. From a personal level my DLG cost to buy amount is 30% lower than AV. due to DLG being what I class as a pain trade in recent years. Another chance again to rescue that in 2024 has to be a good thing and if it means more AV shares and a return of capital I will be very happy to be out of the woods.

Good luck all 👍🏻
Posted at 15/8/2024 08:13 by kenmitch
Note the different share price response to the good Results from AVIVA yesterday and Admiral today. AVIVA share price flat. Admiral share price up 8%.

Why the big difference?

Is it perhaps because Admiral have spent excess cash on the genuine reward of a special dividend on top of the increased ordinary dividend. I.e investors get the big bonus of real cash. AVIVA prefer to waste the spare cash on buybacks where unfortunately investors don’t get any real cash. RIO current dividend yield is 6% but a couple of years ago they rewarded investors with 20% dividend via big special dividends on top of their ordinary dividends.

Fortunately more and more UK Companies are now paying special dividends instead of buying back. e.g Big Mining Companies like RIO now always go for big special dividends in the good years. Previously they spent multiple £billions on buybacks…..only then to see huge share price falls in Mining sector downturns. That made them realise that the huge sums they spent on those buybacks was money down the drain.
Aviva share price data is direct from the London Stock Exchange

Aviva Frequently Asked Questions (FAQ)

What is the current Aviva share price?
The current share price of Aviva is 474p.
How many Aviva shares are in issue?
Aviva has 2,677,089,316 shares in issue.
What is the market cap of Aviva?
The market capitalisation of Aviva is GBP 12.73 B.
What is the 1 year trading range for Aviva share price?
Aviva has traded in the range of 414.40p to 508.20p during the past year.
What is the PE ratio of Aviva?
The price to earnings ratio of Aviva is 11.72.
What is the cash to sales ratio of Aviva?
The cash to sales ratio of Aviva is 0.31.
What is the reporting currency for Aviva?
Aviva reports financial results in GBP.
What is the latest annual turnover for Aviva?
The latest annual turnover of Aviva is GBP 41.43B.
What is the latest annual profit for Aviva?
The latest annual profit of Aviva is GBP 1.09B.
What is the registered address of Aviva?
The registered address for Aviva is 80 FENCHURCH STREET, LONDON, EC3M 4AE.
What is the Aviva website address?
The website address for Aviva is www.aviva.com.
Which industry sector does Aviva operate in?
Aviva operates in the INSURANCE CARRIERS, NEC sector.

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