Aviva (AV.)

Sector:

Insurance

Index:

FTSE 100

496.60p
   
  • Change Today:
      0.40p
  • 52 Week High: 498.50p
  • 52 Week Low: 369.20p
  • Currency: UK Pounds
  • Shares Issued: 2,724.71m
  • Volume: 6,624,085
  • Market Cap: £13,531m
  • RiskGrade: 140

Aviva, Persimmon agree 'landmark' commitments for leaseholders - CMA

By Michele Maatouk

Date: Wednesday 23 Jun 2021

LONDON (ShareCast) - (Sharecast News) - The Competition and Markets Authority said on Wednesday that Aviva and Persimmon have agreed to "landmark" commitments for leaseholders.
As part of the watchdog's investigation into unfair practices in the sector, investment group Aviva has committed to remove certain terms from its leasehold contracts which cause ground rents to double and to repay those who were affecting by the issue.

Meanwhile, housebuilder Persimmon will now offer leasehold homeowners the chance to buy the freehold of their home at a discounted price. It will also make repayments to certain homeowners who have already purchased their freeholds.

In addition, Persimmon has agreed to extend the timeframe that prospective buyers are given to exchange contracts after reserving a property, and to provide people with more upfront information about the annual costs of buying a home.

CMA chief executive Andrea Coscelli said: "This is a real win for thousands of leaseholders - for too long people have found themselves trapped in homes they can struggle to sell or been faced with unexpectedly high prices to buy their freehold. Now, they can breathe a sigh of relief knowing things are set to change for the better.

"It's good that Aviva and Persimmon have responded positively to this investigation, enabling these issues to be fixed for leaseholders. But our work isn't done. We now expect other housing developers and investors to follow the lead of Aviva and Persimmon. If not, they can expect to face legal action."

Russ Mould, investment director at AJ Bell, said Persimmon has taken "a big step forward" by reaching an agreement with the competition authorities over the sale of leasehold properties.

"Purchasers of these properties have in some cases been hit by escalating ground rents which have left them heavily out of pocket and struggling to sell homes on as well as claiming they weren't properly informed during the buying process.

"Investors will be relieved that Persimmon has nipped this issue in the bud by extending and solidifying some of the existing measures put in place to mitigate the issue. And while it removes a potential revenue stream for the company it also builds on the existing work it has done to address historic issues with build quality and customer care as well as excessive executive pay."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Aviva Market Data

Currency UK Pounds
Share Price 496.60p
Change Today 0.40p
% Change 0.08 %
52 Week High 498.50p
52 Week Low 369.20p
Volume 6,624,085
Shares Issued 2,724.71m
Market Cap £13,531m
RiskGrade 140

Aviva Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
58.99% above the market average58.99% above the market average58.99% above the market average58.99% above the market average58.99% above the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Price Trend
59.89% above the market average59.89% above the market average59.89% above the market average59.89% above the market average59.89% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income
86.89% above the market average86.89% above the market average86.89% above the market average86.89% above the market average86.89% above the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Growth
70.23% below the market average70.23% below the market average70.23% below the market average70.23% below the market average70.23% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average

What The Brokers Say

Strong Buy 4
Buy 5
Neutral 6
Sell 0
Strong Sell 0
Total 15
buy
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Aviva Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 24-Aug-23
Paid 23-May-24 05-Oct-23
Amount 22.30p 11.10p

Trades for 28-Mar-2024

Time Volume / Share Price
16:42 24,921 @ 496.60p
16:35 3,313,433 @ 496.60p
16:35 2,623 @ 496.60p
16:35 8,763 @ 496.60p
16:35 10,782 @ 496.60p

Aviva Key Personnel

CEO Amanda Blanc
CFO Charlotte Jones

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