I also reinvested my cash return at £4.13. Thought they would fly past £5 quickly. I was wrong! Then when they dropped under £4 I doubled my holding with a series of small buys. Couldn't resist it as I feel this share has legs.
@yolodn, we are in volatile times, so 50% up on the low at some point in the year seems right. Assuming £3.90 that we were a couple of weeks ago is the low for the next year, then around £5.80 is the expected high! Happy to hold all of my top heavy holding here. Its my largest in my portfolio, and while I may slice some over £5.50, I have no intention of selling out. I can see a good few years ahead, and for me this is one to run (at this price).
Not just for Aviva, but for our performance against our peers in the sector. Another reason for the re-rate. Confidence in the company to deliver on their promises is growing. The fact that there are also 25% less shares in circulation to share the profit pot, is obviously a fey factor in the rise. In theory we should be looking at a 33% share price increase on the pre consolidation price IMO. I've accumulated and not letting any go below £5.50. GL to the traders here, beware the re-rate!!
"In the six months to June 30, its IFRS loss widened to GBP633 million from a GBP198 million loss a year prior. Aviva explained that this "largely" reflects adverse market movements and has no impact on capital or cash remittances. Adjusted operating profit rose 14% to GBP829 million from GBP725 million."
So I suspect that this is down to a fall in investments due to worldwide market conditions. However I'm no expert. Hope that help!
Surprise, surprise! The market has just woken up to the impact of reducing the number of shares on offer by 25%. I have been accumulating for my pension and reckon they will be a great long term investment. All of the traders shares will be gone soon. A squeeze to £5, seems inevitable IMO. I expect a new trading range of £4.80 to £5.50 to be established soon.
RE: The noise levels drop on bad days09 Aug 2022 15:31
Just waiting for shorters to leave. Blatant manipulation IMO. It's not a true market. They sell to keep the price down on good news, and mop up what they can on the lows in a thin market. True value is well over £1 a share IMO. Just takes time. When the case for a rise becomes so compelling they will leave.
I tend to disagree that this won't go higher than £4.30. My target, and that of quite a few brokers is £5+. Last years dividend covered by 1.47, and expect similar this year due to increased divi offset by share consolidation. Also not an unreasonable expectation given the share consolidation after the cash release. We will see how the next year goes!
Expecting good results tomorrow, and looking forward to them! Have been increasing since the capital return. Would still yield over 6% this year at a share price of £5. Great forecast progressive dividend for next few years, which should lead to a progressive share price.
I see LSE have not aligned the RNS feed yet for this ticker code. 1p divi in August, NAV at 110p per share up from 106p in last quarter. Bought back around 5% of the shares so far in the recent buy back program.