In the past month, the share prices of Aviva (LON: AV) (AV.L) and Barclays (LON: BARC) (BARC.L) are flat and up 4%, respectively. Here is the latest news released by the two FTSE 100 index (INDEXFTSE: UKX) shares during that time.
Aviva’s news over the past month has included an update on the sale of its stake in Aviva Vita. The insurer confirmed that it has completed the sale of its entire 80% shareholding in the Italian life insurance joint venture to UBI Banca. For its stake, the company received £386 million in cash. This includes £34 million received for the replacement of a subordinated loan provided by Aviva Italia.
The decision to sell the company’s stake in the joint venture was first announced on 23 November 2020. It represents another step in the firm’s strategy to make asset disposals in markets where it feels it lacks a competitive advantage. As a result, it is gradually concentrating to a greater extent on core markets. It is on track to complete its sales of the remaining Italian life insurance and general insurance businesses in the second half of 2021.
In the past month there have been several director deals in Aviva shares. On 31 March, non-executive director Belen Romana-Garcia purchased 1,651 shares at a price of 409p as part of the non-executive director share purchase programme. The total consideration was just over £6,700. There have also been several relatively small senior management purchases as part of matching share plans in recent weeks.
In the last year and five years the Aviva share price has gained 60% and fallen 7%, respectively. This compares to the FTSE 100 index’s 17% and 11% rise over the same time periods. The company’s next investor update is scheduled to be at its AGM on 6 May. The firm’s shares trade at 400p at the time of writing.
Elsewhere in the financials sector, it has been a quiet month for news regarding the Barclays share price. The bank announced that its AGM will go ahead as expected on 5 May 2021, when there is usually an investor update.
In addition, the firm announced that Group Finance Director Tushar Morzaria purchased 13,069 Barclays shares at a price of 189p for a total consideration of just under £24,700. This represented a reinvestment of the full year dividend for the 2020 financial year. In the past year and five years the Barclays share price has gained 92% and 10%, respectively.
Not Investment Advice
Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.