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Last year's HY update was on 25 July so there should be a RNS later this week or early next week.
I'm fully expecting good news across the board which will hopefully get us out of this recent share price weakness.
I would very much welcome a share buyback at these prices to stimulate the share price. Look at a companysuch as Aon (NYSE:AON) due to buybacks, there has been a 38% net reduction in number of shares between 2010 and 2022.
Obviously you can't do buybacks on this scale AND pay a 9% divi, but if we are to get out of this malaise I think a reduction in the number of shares is needed.
You are right, it doesn't give margin or profit figures but it does say "Strong, profitable trading momentum"
If this level of growth can be maintained I would be surprised if there is another special divi at some point.
Absolutely superb update. Hoping for £40 in the next year which seems very achievable.
Broker target prices usually have a year timeframe. But that's obviously a long time in the world of investing and a million and one things could happen between now and then which gives the brokers a few excuses when they invariably don't hit their target price.
This share was certainly oversold last week. The fall in the price of oil today obviously helped the mood too.
I fully expect the SP to move back above £30 pretty quickly. Looking at the current pattern it may dip again but I'm happy to hold and I would not be surprised to see £40 in the next year (assuming there's no escalation in Ukraine, a serious recession in Europe or a new covid type event etc). Obviously DYOR, I'm just a stranger on the Internet and don't know your risk appetite or individual circumstances.
Starting to look like a decent price to re-enter at.
22 June - Q1 trading update.
Looks like we are going to test the September 2022 low. If that support fails then it's a long way down.
Got to admit I have lost a bit of faith but the medium and long term prospects still look good. The waiting list for Rolexs is still growing.
As a long term holder I would welcome another buyback. Have a look at a company like Aon (NYSE:AON). They are part way through a USD9bn share buyback. In fact, there has been a 38% net reduction in number of shares between 2010 and 2022 due to buybacks.
That has had a material increase on the shareprice during that period.
I do not believe that Aviva would be implicated in this. The FCA investigation is more looking at unscrupulous insurance brokers who have occasionally being taking high commissions (sometimes as high as 40%) at a time when tenants are having to pay sky high insurance premiums. The investigation will focus on those brokers who either a. Retained a very high level of commission, b. Kicked back some of the commission to someone, often the landlord c. Brokers who did little or no work to justify the high level of commission.
Since Grenfall the insurance market for high rise buildings with cladding and people who manufacture, design, install and provide advice on cladding has been a complete nightmare. But I don't believe Aviva has or had a huge exposure in this regard.
Wouldn't be surprised if it's LVMH who are interested. They have a really strong luxury watch offering and own Tag, Bulgari, Dior and Hublot. Plus they have tons of cash and are very acquisitive. Wouldn't rule out it going private again either.
What's a fair price though? Surely 1,200p as a minimum.