London, July 4, 2026, 19:08 BST
- Aviva climbed 3.3% last week to finish at 668.40p, beating the FTSE 100, which added 1.6% to reach 10,679.03.
- Aviva cancelled 209,272 shares after buying them back on July 1 and 2, filings show. That’s around 0.007% of its voting rights as of June 30.
- Next up is the Aug. 14 half-year report. Investors will be looking at Direct Line synergies, Solvency II capital, and EPS goals.
Aviva plc LON:AV heads into next week with a firmer showing than the rest of the London market. Shares finished Friday at 668.40p, up 0.60% on the day, bringing its five-day climb to 3.3%. The FTSE 100 added 0.25% Friday, gaining 1.6% for the week. London’s market was shut Saturday.
The share count usually gets less attention. Aviva’s latest filings show it’s still buying back shares daily, though in small amounts. The bigger question for EPS is still the pace of Direct Line savings. On July 1, Aviva bought 106,017 shares at an average 652.51p. On July 2, it picked up 103,255 shares at 663.61p. So around £1.38 million of shares were bought back over both sessions.
| Last week | Aviva | FTSE 100 |
|---|---|---|
| Friday close | 668.40p | 10,679.03 |
| Friday move | up 0.60% | up 0.25% |
| Week move | gained 3.31% | added 1.63% |
| Aviva outperformance | beat index by 1.68 pct pts | — |
The buyback lowered Aviva’s share count after cancellations to 3,001,757,977, down from the 3,001,967,249 voting rights the company listed for June 30. With shares at 668.40p on Friday, Aviva’s £350 million buyback plan could cover about 52.4 million shares — about 1.7% of the voting rights from the end of June. The shares bought in early July make up just a small part of that total.
| Buyback date | Shares bought | VWAP | Implied cash used |
|---|---|---|---|
| July 1 | 106,017 | 652.51p | £0.69 mln |
| July 2 | 103,255 | 663.61p | £0.69 mln |
| Total | 209,272 | — | £1.38 mln |
Investors are watching the share count effect, though it’s still not enough to be the main part of the thesis. Aviva’s Q1 update showed general insurance premiums of £3.4 billion, up 19%, and wealth net flows up 49% at £3.3 billion. The Solvency II cover ratio slipped to 171% from 180% after the year’s dividend, buyback, and debt moves.
| Operating test | Q1 2026 | Comparator | Market read-through |
|---|---|---|---|
| General insurance premiums | £3.4 bln | £2.9 bln | Up 19%; boost from Direct Line |
| Group undiscounted COR | 94.1% | 96.6% | Improved by 2.5 points |
| Wealth net flows | £3.3 bln | £2.3 bln | Rose 49%; workplace pensions strong |
| Solvency II cover | 171% | 180% FY25 | Falls on capital returns, debt |
Aviva CEO Amanda Blanc said in May that Direct Line is “firmly on track,” with policy sales through price comparison sites nearly doubling since the start of the year. In a same-day interview with Reuters, Blanc said UK firms want more political stability. “We don’t operate in a vacuum,” she said. Aviva
Hargreaves Lansdown senior equity analyst Matt Britzman, in a note after the Q1 numbers, said “first-quarter trading looked solid,” citing flows into wealth and Canada profits. But he flagged Aviva’s “valuation isn’t as attractive as it has been,” which matters more now after the stock’s climb. Hargreaves Lansdown
Retirement is turning into a problem area. Back in May, Reuters said RBC analysts had flagged that Aviva’s margins in the retirement segment missed forecasts, while Investing.com said Goldman Sachs lowered its 2026-2030 EPS forecast by 0.7% following Q1 and took its 12-month price target down to 756p.
Aviva is set to report its 2026 half-year results on Aug. 14. In the meantime, investors have the daily buyback disclosures to compare with the stock, which trades 4.6% under its 52-week high of 700.80p.
