Aviva plc Restarts £350 Million Buyback as Shares Slide — Why Analysts Still See Value
Aviva plc disclosed Monday it repurchased 20,000 shares for cancellation in a March 6 transaction, part of the £350 million buyback that kicked off last week. Shares still finished the session down 2.58% at 611.2 pence. The FTSE 100 slipped 0.34%. The filing is key: Aviva halted buybacks while it was finalizing its £3.7 billion purchase of Direct Line, a move that pushed the company to the top spot among UK home and motor insurers. Now that the deal is complete and last week's annual results are in, investors are starting to focus less on M&A and more on whether the bigger Aviva can finally bridge the valuation gap that analysts pointed out on Monday.