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It would appear that a lot of L&G holders are switching over to Aviva now judging by their respective SP movements today, and who can blame them. Another meaty rise in Aviva's SP tomorrow is likely imv due partially to the buyback programme kicking in. Happy days!!
Porsche - this dead market is working for me. Just off loaded @ £4.23 everything I've bought in the last month @ £3.90, £3.85 & £3.80. Pretty much 10% return in under a month with virtually no risk.
That'll see me through 'till nearly Christmas.
And I'll get to do it all again - well at least you're telling me I will. Doesn't matter either way. Choosing my next quality British company already.
The US bubble is not for me, but good luck while it continues.
Porsche no need to be insulting you got it wrong just move you on this not going back to under £4 and you bloody well kown it
Porsche off his Meds again.
Porsche is there a share you actually rate you seem negative on everything looking at your recent history or a shorter and talking your books. Anyway gla lth regards jack
You waste your time on Pork1946 Nuri. Imbecile clueless about investing.
Like you I think this could push on beyond £5. Held these for many years boring but solid returns. CEO appears switched on to what needs to be done now she's got her feet firmly under the table. The only downside is the market is too stupid to realise it .
Looks like the Chairman agrees with you Nuri. Worth well North of a fiver!
Porsche - you are not intelligent at all. certain parts of this business are growing 20% +. If that is not growth, I don't know what is. I agree it is definitely worth north of £5.
The chairman has got in early and has just spent over £420k!
by miss i mean they missed their own guidance to the mkt. hoever, the mkt is a bit frothy, uk assets are in demand, mkt is looking to pair up asset managers with insurers, the cap return, all of this has helped this morning. the company is moving in the right direction and worth holding. and any take out will be well abv 6 quid (i am being conservative) so well worth holding on to in case of that.
hoping its all buy backs. longterm good for investors - fewer shares, higher EPS. As well as that, less dividend tax. Along with debt reduction - phenomenal performance (A+++)
If they are returning £4b, with £750m immediate buy back that would leave £3.25b. All of that as a divi could be up to 90p. If another similar buyback included, divi could be up to 70p.
Or am I missing something?
Its 5% share buy back. If they do another 5% at full yr results then 10% would be a good amount. Hopefully 500 share price by then
What’s that about 170million shares to be cancelled ? Not going to make a lot of difference in the grand scheme of things. Results are very encouraging.
this is probably one in a small number of companies that just never gets rewarded for outstanding performance.
adjusted operating profit up 17%... thats a miss. give me strength.
Usually sometimes
The breadth of Aviva, across life insurance and general insurance, is a key strategic advantage and has driven a 17% increase in operating profit4,5,‡ to £725 million. We also delivered some of our best ever sales figures in the first six months. In UK general insurance we delivered our highest sales3 in a decade. In Savings & Retirement, net flows‡ increased by 24% to a record £5.2 billion, and we've added 100,000 new workplace customers, reinforcing our number one position.
Alongside delivering growth, we continue to focus on reducing controllable costs4,6,‡ which are down 2%. We are on track to deliver our £300 million savings target in 2022 and are focused on achieving top quartile efficiency in all our businesses.
While we've got more to do, our half year results show we have what it takes to drive growth in our businesses. We remain completely focused on transforming performance, capitalising on the breadth of Aviva, making insurance simple and easy for our customers, and creating value for our shareholders."
Return of capital to shareholders of at least £4bn by HY 2022 with full details with FY results in March 20221
They seem to think they have beat previous operating profit??
I'm not unhappy having bought a large chunk at 383 19 July. My expectations with this stock have been well and truly managed over the years. It goes down, then up; repeat forever. Should I sell before XDD?
Nuri. Your just an old sourpuss aren't you. Enjoy the news today and have a good day. :-))
Once we get full year numbers and hopefully cash and profit recognised on remaining disposals Aviva strengths will be even clearer.
Aviva has a long way to go I suspect in terms of being a class leading insurance like Admiral. It will be a long haul because Aviva has been trying to reduce costs for past 15 years but hopefully smaller portfolio of business will increase focus. They should scale back Aviva Head Office like Prudential as group scale has reduced.
I suspect Aviva Sing stake will be sold at some stage as well as India and China jvs will be realised as well but selling jvs is much harder than 100% stakes.
they missed on the operating level so its a surprise that its up at all. the capital return helps but also the positivity of the markets esp towards uk assets. i think the shares are doing well today considering.
4.13 is really taking the ****. exceptional results might as well never happened. still far below NAV. something seriously wrong with investing community. meanwhile ashstead is 100% above NAV for poor results... beggars belief!
the plan was to slim down and sell non essential assets so not necessarily spend the money elsewhere. tbh you wont get many bargains today so better hand it back to shareholders thru a buyback or dividend. in any case a smaller fitter aviva makes it a tgt for a big asset manager
High of 422p so far Nuri and most haven't read thre report yet. Don't be a misery :-)
Maybe I’ve misread, but I haven’t seen mention of consolidation as per Tesco whereby shareholders’ holdings would be reduced. I’ve only read of buy back whereby the overall number of areas in circulation is reduced.