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MatttheBrave.... Google is wrong then - it reports P/E of 7.5.... Good luck - good to know you have invested in a share trading at 110% premium to NAV. Av. is only 1% premium. Not a chance I would invest in L&G - its just too expensive....
....and I see from the Aviva Board, you have £90k invested, and you don't know what an EPS or PE metric is.....LOL!!
I actually got 38.2p from Aviva's results RNS: Basic EPS 38.2p, +9%. It's just above the NAV you keep crowing on about.
Who the hell has ever looked at "Operating Earnings Per Share"?? That would mean nothing to me as I want to know what the earnings for ordinary shareholders is, and that has to be after all financing costs and tax. The PE is always calculated on proper EPS which put Aviva on 11x. Not so cheap now sunshine, eh?
By the way when you see Falkland come on talking about £4 - run a mile. He's been spouting RMG was going to £1... and its currently £2.53.... he's a spoofer - a pumper with little behind him other than circumstance.
Genius!!
EPS of 38.2 pence.... No, simply not right. Read the last full annual report - Part 1 of 4 where the Chairman's report overview states: "Operating earnings per share increased 7% to 58.4 pence. You took the 38.2 pence from the London Stock Exchanges website.... where they get their figures from, I'll never know. NAV is £4.24 as of last full year report - current share price = £4.28.
Legal and general earnings per share - 24.74 pence, so basically half of Aviva's last year and then a few pence less on top of that. Book value per share = £1.46. At today's share price of £3.18, that's over 100% premium to NAV. It's in bubble territory.
You should read these accounts, they tell a very interesting story!
Aviva 2018 EPS of 38.2p. You do the maths, genius.
NAV is irrelevant - this is simply an accounting number, and is largely down to different accounting practices. Any difference after adjusting for this is easily accounted for by the better growth and quality of L&G's businesses, plus better management. Good luck though....;-)
MattTheBrave - Interesting - you never mention NAV because you would see quickly that L&G at £3 or over are far far overvalued. Not sure where you got the 11 P/E - that doesn't show anywhere.... earnings per share last year were 58 pence per share and at the current share price (£4.29), that's 7.5... so where you got 11 from, I have no idea. I have both L&Gs and Aviva annual accounts.... and you'll see L&G is overvalued.... some of Aviva's international operations are really beginning to yield big returns to Aviva.... Overall, at 7.5 P/E, its a steal but it won't be for much longer... More successful investors - when people describe themselves as such and preach their superior investing skills, its usually the beginning of the end. L&G - definitely overvalued!
Perhaps us rather more successful investors here on the L&G Board ( :-) )can enlighten you Nuri. Firstly, L&G's business model is far superior, with higher quality and faster growing asset management and annuity businesses. Earnings last year were about twice what they were in 2014 for L&G showing a steady double digit rate of growth, whereas Avia's are still 20% below wher they were in 2014. You'll also find that Aviva is actualy on a PE of 11x whereas L&G is on 10.5x. Bottom line is that L&G is a vastly superior Company to Aviva, and on a lower multiple, so you stay over on the Aviva Board, while the proper investors focus their time here....... ;-)
Falkland - I won't be buying L&G... I have £90k Aviva.... more than enough - at a P/E ratio of 7 - its just half the market average (or a bit below that). Think I'll stick with high dividend yielding stocks that are twice covered!
Falkland - interesting you are on here. This share is now WELL ABOVE NAV! Aviva isn't even at NAV and its far more spare capital than L&G. It's also making a healthy £3 billion profit and its dividend has been hiked by c. 100% in the past few years.... Why people are buying L&G well beyond its NAV, is beyond me.... and why Aviva is out of favour even though its thoroughly well run is beyond me...!