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Share of the Week w/c 22nd August 2011
Nick Raynor, investment adviser at The Share Centre, picks Aviva, the UK’s largest insurer, as his share of the week. Here’s why:
“The company’s interim results issued in early August saw Aviva beat a number of its key targets. Operating profits and the company’s dividend increased by 5% and the life insurance business also rose higher than expectations.
“Investors seeking growth will be pleased to see Aviva has been expanding and is developing its position in the European markets. The group remains committed to achieving its growth targets of doubling earnings by 2012 and has increased its cost savings target to £500m from £350m.
“Going forward Aviva will be focusing on the protection side of the business. The company is currently the provider of choice to Royal Bank of Scotland and the Post Office and has extended partnership with Santander, which will further strengthen protection sales.
“The recent weakness in the share price has pushed the yield close to 8% and we believe Aviva would be sending the wrong signals if it cut the dividend. Income seeking investors should note the shares will be ex-dividend on 21 September however there is still chance to buy on any further weakness. Investors seeking overseas exposure and a strong and well covered dividend may want to invest in this FTSE 100 stock.”
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THIS DATA IS PROVIDED BY NICK RAYNOR, INVESTMENT ADVISER AT THE SHARE CENTRE. THIS IS NOT INTENDED TO CONSTITUTE AN OFFER OR AGREEMENT TO BUY OR SELL INVESTMENTS.
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