LONDON, July 6, 2026, 21:06 BST
- Aviva finished 1.1% higher at 675.80p, outpacing the FTSE 100, which slid 0.26%.
- Aviva on July 6 reported buying 103,834 shares on July 3 at a volume-weighted average price of 666.82p, according to an RNS.
- Aviva’s first buyback updates for July report buying 313,106 shares for cancellation. That’s over 11 times more than the 26,740 shares it issued in June to staff under employee plans.
- Median target from 12 analysts is 727.75p. Dividend yield is forecast at 6.21% for 2026 and 6.67% in 2027, according to .
Aviva plc LON:AV advanced 1.1% to 675.80p on Monday, up 7.4p from Friday’s close, while London’s FTSE 100 lost 0.26% to 10,651.77. Hargreaves Lansdown showed the shares as market closed, and Aviva’s site had the delayed quote at 675.80p at 16:49 UK time.
There’s a buyback angle to the stock move. Aviva reported Monday that its recent buyback price came in under the latest market quote. The first three July buyback updates show the company bought shares as the price climbed, not when the stock was falling.
Aviva reported it purchased 103,834 shares on July 3 for cancellation, paying between 663.00p and 670.00p per share with a volume-weighted average price of 666.82p. Once cancelled, Aviva will have 3,001,654,143 ordinary shares in issue and no shares held in treasury.
Aviva bought back 313,106 shares over three days, July 1 to July 3, according to RNS notices. The buyback cost £2.07 million with a weighted average price of 660.92p, around 2.3% under Monday’s 675.80p close. The purchased shares are about 0.010% of the total after cancellation, but are more than enough to cover the 26,740 shares issued through June employee plans.
| Buyback date | Shares bought | VWAP paid | Estimated outlay |
|---|---|---|---|
| July 1 | 106,017 | 652.51p | £0.692 mln |
| July 2 | 103,255 | 663.61p | £0.685 mln |
| July 3 | 103,834 | 666.82p | £0.692 mln |
| Total | 313,106 | 660.92p | £2.07 mln |
Based on the share count after the cancellation, every 1p change in Aviva moves about £30.0 million in equity value. The stock rose 7.4p on Monday, adding £222 million, which is over 100 times what Aviva spent on buybacks over three days. That’s why the price investors pay still outweighs how much Aviva spends on buybacks each day.
Analysts don’t see much upside on valuation here. Investors Chronicle data show the median 12-month target from 12 analysts is 727.75p. High end is 800p, the low is 637p. The table below bases implied moves on Aviva’s latest 675.80p price.
| Price marker | Level | Move vs 675.80p |
|---|---|---|
| 52-week high | 700.80p | +3.7% |
| Median analyst target | 727.75p | +7.7% |
| High analyst target | 800.00p | +18.4% |
| Low analyst target | 637.00p | -5.7% |
The main support for bulls is Aviva’s income and buyback story. MarketScreener numbers put the stock at a 6.21% yield for 2026 and 6.67% for 2027, with earnings per share seen going from 52.99p in 2026 to 60.48p in 2027.
| Forecast item | 2026e | 2027e |
|---|---|---|
| EPS | 52.99p | 60.48p |
| Dividend per share | 41.52p | 44.58p |
| Dividend yield | 6.21% | 6.67% |
| P/E | 12.61x | 11.1x |
CEO Amanda Blanc has linked Aviva’s pitch to investors with steady cash returns. Back in March, after the group posted a 25% jump in 2025 operating profit to £2.20 billion and started a £350 million buyback, Blanc said the company was “highly committed to growing our dividend.” Aviva
The Direct Line deal is another test for Aviva. Reuters said in November that Aviva is aiming for 11% yearly EPS growth until 2028 and plans to cut £225 million in costs by merging with Direct Line, almost double its first estimate. “We’re now ready for the next chapter of our delivery,” Blanc told Reuters at the time. Reuters
Aviva’s May trading update helped back up the group’s targets. General insurance premiums rose 19% to £3.4 billion. The undiscounted combined operating ratio improved to 94.1%. Wealth net flows jumped 49% to £3.3 billion. Solvency II cover ratio came in at 171%. Blanc said it’s an “excellent start to 2026.”
Retirement was weaker. Q1 retirement sales dropped 35% to £1.1 billion, with bulk purchase annuities down 52% to £619 million. Aviva pointed to less quote activity and a tougher BPA market.
Aviva has set Aug. 14 as the provisional date for its 2026 half-year numbers. Investors will watch to see if wealth flows and general insurance margins are still strong enough to keep up the dividend and buyback.
