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| 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
|
|
|---|---|---|---|---|---|
| -0.20 | -0.04% | 507.00 | 6,421,372 | 16:35:28 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 506.80 | 507.00 | 511.40 | 503.40 | 503.80 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Insurance Carriers, Nec | 41.43B | 1.09B | 0.4052 | 12.51 | 13.58B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 17:27:12 | O | 41 | 508.20 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 27/1/2025 | 17:29 | UK RNS | Barclays PLC Form 8.3 - Aviva plc |
| 27/1/2025 | 16:22 | UK RNS | Morgan Stanley & Co. Int'l plc Form 8.5 (EPT/RI)-Replacement of Aviva plc |
| 27/1/2025 | 15:23 | UK RNS | AQR Capital Management, LLC Form 8.3 - Aviva plc |
| 27/1/2025 | 15:20 | UK RNS | BlackRock Group Form 8.3 - Aviva plc |
| 27/1/2025 | 15:14 | UK RNS | Barclays PLC Form 8.3 - Aviva plc |
| 27/1/2025 | 14:42 | UK RNS | Legal & General Inv Mgmt (Holdings) Form 8.3 - Aviva plc |
| 27/1/2025 | 14:30 | UK RNS | State Street Global Advisors Form 8.3 - Aviva plc |
| 27/1/2025 | 14:28 | UK RNS | FIL Limited Form 8.3 - AVIVA PLC |
| 27/1/2025 | 13:55 | UK RNS | BNP Paribas London Form 8.3 - Aviva plc |
| 27/1/2025 | 13:52 | UK RNS | Nordea Investment Management AB Form 8.3 - Aviva PLC |
Aviva (AV.) Share Charts1 Year Aviva Chart |
|
1 Month Aviva Chart |
Intraday Aviva Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 27/1/2025 | 11:59 | AVIVA PLC | 20,665 |
| 19/12/2024 | 22:28 | Aviva | 25,528 |
| 20/11/2024 | 15:49 | AVIVA (MODERATED) | 134 |
| 16/3/2024 | 17:45 | AV. for alternative views | 11 |
| 13/3/2024 | 17:45 | No-Raj Union ? | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2025-01-27 17:27:14 | 507.49 | 26,377 | 133,861.16 | O |
| 2025-01-27 17:27:14 | 508.00 | 26,377 | 133,995.16 | O |
| 2025-01-27 17:15:00 | 503.80 | 3,276,641 | 16,507,717.36 | O |
| 2025-01-27 17:00:21 | 508.31 | 26,377 | 134,076.40 | O |
| 2025-01-27 17:00:21 | 507.80 | 26,377 | 133,942.41 | O |
| Top Posts |
|---|
Posted at 27/1/2025 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 507.20p.Aviva currently has 2,677,649,489 shares in issue. The market capitalisation of Aviva is £13,570,327,610. Aviva has a price to earnings ratio (PE ratio) of 12.51. This morning AV. shares opened at 503.80p |
Posted at 17/1/2025 18:30 by xtrmntr ??????Shares in Aviva (AV.) and Direct Line (DLG) have travelled in opposite directions over the past four years. While Aviva is up by 50 per cent, its FTSE 250 rival has fallen by almost a fifth. The discrepancy is even more extreme when dividends are taken into account, given Direct Line suspended payouts in early 2023.The reasons behind the companies' divergent fortunes have been well-documented. While Aviva has slimmed down and refocused under the direction of chief executive Amanda Blanc, Direct Line was caught out by inflation and forced to issue a series of profit warnings in 2022 (it had not adequately reflected rising repair and replacement costs in its motor insurance premiums). After a boardroom shake-up, it is now in the early stages of a turnaround.What were once two separate stories, however, have merged into one. Aviva made a bid for Direct Line last month and, just before Christmas, the deal was finalised. The £2.7bn takeover is expected to close by the middle of 2025 after it has been scrutinised by regulators and the competition watchdog. Shareholders on both sides are now asking the same question: is this a good idea? A sector giant The market was generally enthusiastic about the terms of the deal. Aviva will pay 275p for every Direct Line share, split equally between cash and newly issued stock. This represents a 73 per cent premium to Direct Line's undisturbed share price, and is more than Belgian insurer Ageas (BE:AGS) offered last March.Many Direct Line shareholders will be feeling relieved. Morningstar analyst Henry Heathfield pointed out that the current financial plans for the company are "ambitious", and not guaranteed to be sustainable. "This is a highly competitive industry where Direct Line is up against a highly effective incumbent and has been losing market share as a standalone," he said.For Aviva, the purchase of Direct Line feeds into a strategy that it has been pursuing for several years: to shift away from life insurance and towards 'capital light' work such as motor and home insurance. This is a trend that is occurring "across Europe", according to Panmure Liberum analyst Abid Hussain. This is because the market values general insurers more highly than life insurers. The latter must be able to meet big payment obligations as soon as a contract starts, but they typically receive premiums in instalments over the course of multiple years. On day one, therefore, there is a capital strain and the payback period is lengthy. Motor and home insurance work can be more volatile, but returns tend to arrive faster.There are plenty of other things in favour of the deal. For starters, the combined company will dominate the sector. UBS estimates that Aviva will have a 22 per cent share of the personal lines market after the takeover, compared with Admiral's 13 per cent.Costs are also set to be slashed. Aviva is targeting savings of £125mn within three years of the deal completing, in addition to the £100mn of savings Direct Line is on track to deliver by the end of 2025. Head office and "senior management functions" will be the biggest source of savings, with up to 2,300 jobs expected to be shed. IT platforms will also be consolidated and there should be "increased efficiency" from combining insurance operations. Analysts have flagged "good similarities" between the two companies, noting that they both operate their own garage repair networks, and that combined data and technology could improve underwriting.This clearly isn't risk-free, and will be expensive at first. Aviva expects to incur £250mn of one-off integration costs, three-quarters of which will fall within the first two years. However, even including restructuring costs, management thinks the deal will increase profits in the first full year after completion, and deliver around 10 per cent earnings per share accretion once the cost savings have been realised.Rethinking investor payouts There are more than cost synergies to consider. In the insurance sector, companies have solvency capital requirements to ensure they can meet their obligations to policyholders.The level of capital insurers must hold is dictated by a range of factors, but expanding into new business lines or geographies can reduce the burden. At the half-year mark, for instance, Aviva's solvency capital requirement decreased by £400mn to £7.8bn because it had diversified away from life insurance policies. Adding Direct Line to the group is expected to help this further. "The capital benefit from diversification that will emerge is significant," chief financial officer Charlotte Jones told investors in December.Aviva itself didn't give concrete predictions, but analysts at the Bank of America (BofA) estimate that the deal could free up around £500mn-£600mn of capital.BofA described this as the "cherry on top" of the Direct Line acquisition, which could ultimately fuel higher shareholder payouts. The bank thinks Aviva will return about a third of its market cap between 2025 and 2027, culminating in a 13 per cent yield in 2027, when both dividends and buybacks are taken into account. "This is among the most attractive levels of capital return in the sector," it said.Management is certainly sounding confident for now. It has upgraded its dividend policy and, having bought back £300mn of shares in 2023 and again last year, is set to announce an even bigger buyback in 2026 to reflect the higher share count (it won't be buying back shares this year, given it needs cash for the acquisition).Since income is the big appeal of UK insurance stocks, this paints a compelling picture. It is important to remember, though, that mega deals are difficult to pull off."We don't typically like mergers and acquisitions and mainly view them as value-destructive," said Morningstar. The ratings agency is feeling optimistic in spite of this – but only time will tell if it was right to let its guard down. |
Posted at 12/1/2025 10:43 by whatsup32 Sunday Times. "Scam insurers"It seems due to high cost of insurance for youngsters some are turning to "scam insurers" . Basicly no insurance but you do buy a piece of paper to say you have insurance. Problems arise when you try to claim . Also highlights many who use mum and dads insurance and add their name to theirs. Rongetrich. Why would they buy DLG if they wanted to reduce exposure to car insurance? . I sense we want see much upside on Av. share price for awhile , |
Posted at 23/12/2024 07:15 by bountyhunter As a DLG holder happy to see the bid is in but it's going to take a while!The boards of Aviva and Direct Line are pleased to announce they have reached agreement on the terms of a recommended cash and share offer for Direct Line (the "Acquisition"). · The Acquisition builds on Aviva's strong performance over the last four years, with Aviva having been transformed into a high-performing business with a clear strategy. The Acquisition will accelerate Aviva's momentum and will offer customers and shareholders a number of benefits as set out below. · Under the terms of the Acquisition, each Direct Line Shareholder will be entitled to receive: For each Direct Line Share held: 0.2867 New Aviva Shares; 129.7 pence in cash; and up to 5 pence (in aggregate) in the form of dividend payments to be paid (subject to the approval of the Direct Line Board) prior to Completion (together, the "Offer Consideration") · Based on the Closing Price of Aviva Shares of 489.3 pence on 27 November 2024 (being the last closing share price before the commencement of the Offer Period), this values each Direct Line Share at 275 pence and values the entire diluted share capital of Direct Line at approximately £3.7 billion. · This represents a premium of approximately: ° 73.3 per cent. to the Closing Price of 158.7 pence per Direct Line Share on 27 November 2024; and ° 49.7 per cent. to the six month volume weighted average price of 183.7 pence per Direct Line Share to 27 November 2024. · Upon Completion, it is expected that Aviva Shareholders will own approximately 87.5 per cent. and Direct Line Shareholders will own approximately 12.5 per cent. of the issued and to be issued share capital of Aviva. |
Posted at 13/12/2024 16:14 by muscletrade Since two major UK insurance companies announced takeover terms on 6 December – a “possible̶DLG 0.65% by Aviva AV. 0.79% becoming a full offer by Christmas – it is curious how Direct Line shares are trading at 247p, a 10.5% discount to the offer price. Is this a fair reflection of risks surrounding a deal consummating, or an opportunity to buy into or raise one’s holding in Aviva by discounted means? Aviva has been a popular share for income-seekers, and consensus forecasts imply an 8% dividend yield with roughly 1.2x earnings cover. Mind, its free cash-flow profile – what counts most for payouts – has seen historic volatility. Invest with ii: Top UK Shares | Share Tips & Ideas | Cashback Offers Recommended terms are 275p per Direct Line share comprising 129.7p in cash (Aviva can fund from internal resources) and 0.2867 new Aviva shares, also a dividend up to 5p from Direct Line. A dividend may be necessary anyway if the competition regulator much delays completion of the deal. With Aviva trading at 475p, the share-based element values Direct Line at 136p, hence around 5p of the possible offer discount is explained by Aviva falling from 483p since the news broke: Aviva chart performance Source: TradingView. Past performance is not a guide to future performance. Otherwise, that still leaves the discount just over 10% as if the market sees risks. The chances of Aviva backing off look low Aviva would have modelled its financial resource within a range of possible offers before it initially mooted a 250p per Direct Line share on 28 November. Digital Line Insurance Group performance chart Source: TradingView. Past performance is not a guide to future performance. Given Direct Line floated at 175p in 2012, it would seem its strategy and execution has been lacking, although there have been substantial dividends (including special payouts) over the years. Direct Line Insurance Group - financial summary Year end 31 Dec 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Turnover (£ million) 3,349 3,253 3,321 3,496 3,427 3,284 3,202 3,230 3,229 3,602 Operating margin (%) 13.6 15.4 10.4 15.2 16.8 15.4 14.0 13.6 -7.0 3.8 Operating profit (£m) 457 500 345 531 577 506 447 441 -226 137 Net profit (£m) 373 580 279 434 472 420 367 344 -232 223 Reported EPS (p) 26.0 27.6 20.2 31.5 32.9 29.2 25.5 24.1 -19.1 15.9 Normalised EPS (p) 26.7 26.5 24.1 33.6 33.0 29.9 28.2 30.0 -19.1 15.7 Earnings per share growth (%) 1.8 -0.8 -8.9 39.4 -1.7 -9.4 -5.7 6.4 -163 176 Operating cashflow/share (p) 51.4 37.6 62.4 39.6 35.6 33.4 42.5 32.4 61.6 30.9 Capex/share (p) 13.9 9.9 9.5 6.9 11.3 13.6 11.7 10.2 9.2 30.4 Free cashflow/share (p) 37.5 27.7 53.0 32.7 24.3 19.9 30.8 22.2 52.4 0.5 Ordinary dividend per share (p) 12.6 13.8 14.6 20.4 21.0 21.6 22.1 22.7 7.6 4.0 Covered by earnings (x) 1.8 2.0 1.4 1.5 1.6 1.4 1.2 1.1 -0.6 4.0 Special dividend per share (p) 14.0 27.5 10.0 15.0 8.3 0.0 14.4 0.0 0.0 0.0 Cash (£m) 880 964 1,166 1,359 1,154 949 1,220 956 1,004 1,772 Net debt (£m) -284 -381 -571 -523 -319 -126 -153 -897 -939 -1,584 Net assets/share (p) 205 191 185 198 187 193 200 194 176 183 Source: historic company REFS and company accounts Aviva will have judged a takeover as strategically sound and earnings-enhancing, with scope to take out costs and achieve synergies. Raising its offer terms may also include an aspect of hope that more can be released from Direct Line’s claims reserves and which may only involve tweaking the discount rate applied. But this is going to need closer examination – as is likely happening right now. Even in a worst-case scenario of skeletons, there would seem more likely a modest adjustment on price. Most Direct Line holders will be even more relieved finally to have a chance to move on. Sector Screener: more potential for Rolls-Royce and BAE shares? IAG and easyJet among airline share tips for 2025 A latest note from broker Jefferies cites their concern that Direct Line’s IT systems may be problematic to integrate after a recent investment programme. “It is unclear which system Aviva ought to decommission; however, as Aviva’s book is performing better, it might be safer to write off Direct Line’s investment and move that book to Aviva, even if the systems are older.” All-considered as to execution risk, I see this favouring Aviva consummating a deal. Its recent strategy has been to divest non-core and overseas interests, but the fact its shares are priced for an 8% yield suggests the market sees few capital growth prospects. A substantive UK acquisition starts to address that. Aviva - financial summary Year-end 31 Dec 2016 2017 2018 2019 2020 2021 2022 2023 Operating profit (£m) 1,833 2,374 1,734 3,916 1,895 877 -2,138 1,793 Net profit (£m) 703 1,497 1,568 2,548 2,798 1,966 -1,051 1,085 Reported EPS (p) 19.9 45.0 49.7 82.4 43.7 8.3 -34.7 37.7 Normalised EPS (p) 23.6 46.6 48.0 83.4 47.2 8.2 -34.6 37.8 Earnings per share growth (%) -46.5 97.1 3.2 73.6 -43.4 -82.7 Return on capital (%) 0.4 0.5 0.4 0.9 0.4 0.2 -0.7 0.5 Operating cashflow/share (p) 153 249 177 200 -82.8 7.4 508 -99.6 Capex/share (p) 6.0 5.7 5.0 4.0 4.6 3.6 3.2 12.8 Free cashflow/share (p) 147 243 172 196 -87.4 3.8 505 -112 Dividend per share (p) 30.7 36.1 39.5 20.4 27.6 29.0 31.0 33.4 Covered by earnings (x) 0.6 1.3 1.3 4.0 1.6 0.3 -1.1 1.1 Cash (£m) 29,834 13,377 8,355 11,171 10,345 12,485 22,505 17,273 Net debt (£m) -17,858 -2,360 2,359 -190 780 -5,141 -14,435 -9,906 Net assets (£m) 16,803 16,969 16,558 17,008 19,354 16,238 9,704 9,082 Net assets/share (p) 544 557 559 571 649 569 348 334 Source: historic company REFS and company accounts. Jefferies regard Aviva shares as “inexpensive below a 10x 2025 P/E”, hence reiterate “buy” and raise their target price to 560p from 550p. If a fair view, then it sweetens the exit for Direct Line shareholders, hence intrigue whether to add currently. There must, however, be two valuation scenarios based on whether or not the takeover happens, given Aviva’s motivation to do so is based on enhancing earnings. Longevity of regulatory examination is key uncertainty Some Direct Line holders argue the 5 December approval by the Competition & Markets Authority (CMA) of the takeover of Three by Vodafone Group VOD 0.41% , implies this insurance takeover is most likely to happen. Estimates differ but combining Aviva with Direct Line could possibly result in a 20% share of the UK motor insurance market, yet the CMA waved through Vodafone and Three with 20% and 15% of the UK mobile market respectively. That will, however, still lag Virgin 02 with 38%, if ahead of BT Group BT.A 0.27% with 27%. Unpacking some of the contrasting claims: Data from Confused.com, a UK financial services comparison platform, suggests a combination would result in a market share over 20% in motor insurance - Aviva currently with 11% and Direct Line just over 10.2% - ahead of Admiral Group ADM 0.65% with 11% then Hastings just below 7%. Shareholders have to hope Confused is indeed so. On 2 December, Statistica cited Admiral leading with 13% and Aviva/Direct Line combined accounting for 12%. The top 10 motor insurers in the UK hold 75% of the total UK market. It would seem the difference is based on Statistica using first-half-2024 figures for motor premiums. Apparently, the combination will lead to the UK’s largest home insurer. What the future might hold for BT and Vodafone shares Stockwatch: why I worry about a shift in takeover trends Precedent exists: when Aviva initiated its £460 million purchase of AIG’s UK protection side, the CMA investigated how the merged entity would become the biggest operator with a share over 20%, ahead of Legal & General and various others. It approved the combination given the two businesses’ services were different enough to have separate rivals. Yet with Aviva/Direct Line, both target the mass market and tend to sell direct rather than use intermediaries. So, it rather depends how the CMA wants to regard a strengthening of such approach. The competition regulator is accountable to government where a House of Commons report has cited UK car insurance prices rising by 82% from May 2021 to June 2024; although Covid lockdowns did reduce premiums shortly beforehand. I treat this inflation claim with a pinch of salt for it may not be wholly real if based on renewal prices. All insurers seem to try and fleece customers this way, but if you compare the market and go back negotiate, they usually cave in. Not surprisingly then, Aviva is already pitching that the takeover will create efficiencies able to lower premium costs. From customer review boards on Direct Line, some people do protest at high prices/increases while others praise its customer service. Does economic growth imply more or less competition regulation? Optimists on this takeover also cite the CMA’s CEO declaring last month it “should play a critical part in the success of the government’s growth mission”. Following the US election result, it is easy to assume this means a loosening of regulation, the platform on which Donald Trump stood, his strong victory prompting US stocks to surge. What is tipped to be the best asset class of 2025? Sign up to our free newsletter for investment ideas, latest news and award-winning analysis Yet the CMA boss meant competition as an “engine for unlocking opportunities and growth...we must stay true to our mandate from Parliament: to promote competition, for the benefit of consumers”. That implies a toughening of approach, at least to examine change where it creates greater concentration of power. The CMA launched its investigation into Vodafone/Three on 26 January. While the outcome could be similar here, there is an obvious time value for uncertainty. Double-digit discount does make sense You can take your view, but reasons exist why this takeover – even if formally proposed before the Christmas deadline – could drag on. Direct Line shares may respond positively, but I would expect at least a 5% discount to offer terms to continue. If and when the CMA shows its hand, this valuation gap could widen again. Obtaining Aviva shares still appears an attractive prospect. Recent consensus forecasts (which ought not to factor in the takeover) imply its forward earnings growth prospect divided by the price/earnings ratio is 0.7, hence a “buy” according to this PEG ratio. Mind, these numbers may benefit from recent underlying momentum; if that is sustainable then why assume the risk of a big takeover? Reasons therefore exist to continue holding both shares. As to any “arbitrageR Edmond Jackson is a freelance contributor and not a direct employee of interactive investor. |
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 imoIn 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 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 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 👍🏻 |
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