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I don’t think this is an overly appealing share price at the moment. The share price was unable to break the £5 barrier when it was riding the crest of a wave and the FTSE 100 index was smashing all records. The FTSE is still trading very high, it always seems to come back down to 7500 and if it does share prices will fall quite a bit.
Aviva share price does historically bounce about, it was not too long ago we were at 370p and couldn’t get above 440p for a year.
Interim dividend is some 9 weeks away. Happy to watch from the sidelines at present.
I can see this back below 440 now that the support of the share buyback has finished. Let's see. I will buy back in if I am right
Drip add 469p
gla
(LON:AV) has announced that it has successfully completed its share buyback programme which was notified to the market on 7 March 2024.
As a result of the Programme, Aviva acquired 62,815,617 ordinary shares at an average price of 478 pence per share.
As at close of business on 28 June 2024, Aviva had 2,680,361,288 issued ordinary shares admitted to trading, 3,307,878 of which are pending cancellation under the Programme. Aviva does not hold any ordinary shares in treasury and therefore, net of ordinary shares pending cancellation, Aviva has 2,677,053,410 ordinary shares admitted to trading.
Drip/Buy @ 479p this morning.
gla
No takeover for PHNX, the 'bounce' was a reaction to their possible sale of Sun Life.
"The Board of Phoenix Group Holdings plc ("Phoenix Group" or "the Group") is today announcing its intention to explore a potential sale of its SunLife Limited ("SunLife") business.
SunLife is a leading provider of financial protection products direct to the over 50s market in the UK and reported profit after tax of £16 million in 2023.
Following a strategic review, the Group has concluded that this business is no longer core to the delivery of its vision of becoming the UK's leading retirement savings and income business."
A Director buying £474,000 of shares is a vote of confidence.
Added, small.
….unlikely to be highly exciting for growth, but good management, good cash position, good dividend, (small, 5-10%?) possibility take over in next 1-2 years, and its in a sector that’s been somewhat out of favour for a fair old while, so not buying at an overly frothy point (i hope).
F for sure, labour win election result must be utterly baked in, but prospect of a seriously large majority for starmer could mean he can play hardball with the left of his party once in govt, with some possible additional plus points to UK borrowing from international markets as a result. (smaller majority might mean he’d have to risk higher spend to placate left, but possible cost of higher UK debt financing.)
[NB nice late bounce in PHNX s/p this afternoon, on a little chatter about possible t/o … rumour only, and a rather different kind of business model from AV., but if there were a bid for another company in this sector likely to add some pep to companies such as AV etc.]
"This strong yield profile was chiefly why I made a “buy” case for Aviva at 342p in March 2020, when markets were clobbered by Covid. I said it was “one of the best UK stocks for income, which will eventually kick in to support price”. With 27.6p a share eventually being paid in respect of 2020, it proved an 8% yield – and if forecasts are achieved then a yield over 11% for 2025 for those who bought back then."
I must have read that. In the great sell off I sold plenty of stocks for a loss and bought AV. with the cash. AV. is now my best performer followed by MNG and POLR.
As for the election result, how can it not be priced in by now? The best thing Starmer can do is give us a break from the years of chaos we have suffered under the recent procession of useless leaders and chancellors.
The buy-backs are expected to be completed on 28th June 2024, details of which were announced on 07 March 2024.
I will add on any weakness after the UK election
Bank the dividends......gla
Edmond Jackson’s Stockwatch article positive on Aviva, link below……..
https://www.ii.co.uk/analysis-commentary/stockwatch-aviva-shares-remain-priority-income-investors-ii531941
10/6, 21:28, de nada!
… added, but only smallish. l/t view.
"Once the share buyback ends in two weeks time is this going to fall without the support from that buying?"
No, ceteris paribus.
"My guess is it will either go up,or down or possibly stay around the same level."
Thats the type of post that makes me glad I visited here.Its posts such as that allow us to make those life changing investment decisions.
Other possibilities? Bankruptcy?
".....it will either go up, or down, or possibly stay around the same level."
Presumably posted tongue in cheek??!
My guess is it will either go up, or down, or possibly stay around the same level. but no doubt there are other possibilities.
Once the share buyback ends in two weeks time is this going to fall without the support from that buying?
Added 469p ....Broker downgrade (Buying opportunity)
gla
It may be of interest that both my car and house contents insurance renewals with Saga were DOWN this year! By contrast, the quote from Churchill for house buildings was up by more than 25%, so I transferred that to Saga as well. In my experience, AV's products have never been competitive on price - but I am happy to take the dividends :)
Sorry didn't take in a account the share consolidation so reckon my figures are way off...
Hi all have a question.....How many shares have been brought back since August 2021....I've worked it out to be in the region of 1.15 Billion....Is that about right?
I thought the FCA banned Insurance companies charging a loyalty penalty on renewal
https://www.fca.org.uk/news/press-releases/fca-confirms-measures-protect-customers-loyalty-penalty-home-motor-insurance-markets
In answer to question who have I just transferred to from Aviva the policy is now with Allianz. As an aside I accept comments re 'loyalty' to customers etc. Years ago I used to lecture that 'your best prospect is your existing customer '. That has now been rejected in favour of what? I have a no claims record going back further than I care to remember yet I am penalised on renewal. Economically that makes no sense to me whatsoever.
It's interesting from a marketing perspective. If one insurer put their marketing budget behind "no loyalty penalty", current customers getting best rate, etc etc, it could be a great strategy and a big winner. A bit like: "we're not on any comparison sites" strategy, that must've been successful given how long it was run by Direct Line.
Come on Aviva Marketing Dept. Also good rates for shareholders would be nice too!
Buffs - I think it’s a loyalty penalty.
My renewal from Hastings was over £100 more than the new quote I got from Aviva.
Til they start rewarding customer loyalty I think we’ll all be switching every year.
Just about to change my broadband to Gigaclear and mobile to Tesco despite being a vodaphone shareholder.
Move frequently or get ripped off!