Admiral Group (ADM)

Sector:

Insurance

Index:

FTSE 100

2,551.00p
   
  • Change Today:
    -6.00p
  • 52 Week High: 2,837.00
  • 52 Week Low: 2,029.00
  • Currency: UK Pounds
  • Shares Issued: 306.30m
  • Volume: 392,938
  • Market Cap: £7,814m
  • RiskGrade: 91

Admiral's overseas weakness leads to Berenberg's sinking rating

By Conor Coyle

Date: Tuesday 05 Sep 2017

LONDON (ShareCast) - (ShareCast News) - FTSE 100-listed insurance firm Admiral Group was downgraded by Berenberg Bank on Tuesday after its analysts pointed towards weakness in the company's international operations.
Admiral's recommendation was lowered to 'sell' from 'hold', although its 12-month target price was increased to 1723p from 1635p.

The insurer's first half results for 2017 were released on 16 August and came out largely in line with expectations, but Berenberg said there was underlying risk associated with increased competition.

"With negative trends affecting Admiral's core business, the continued run-off of its most profitable accident years and our scepticism about its international segment, we downgrade to Sell with a price target of 1,723p," Berenberg analysts said in a note.

Although its international operations continues to show solid growth, that section of Admiral's business is struggling to turn a profit.

"While top-line growth remains strong, profits remain elusive. Given the trends in the UK business, it appears the valuation of the international operations is becoming increasingly stretched."

In an increasingly competitive UK insurance market Admiral has managed to guide its market share upward, but the analysts said they don't see much scope for further improvement.

While we still believe that Admiral is an excellent operator and a best-in-class price comparison website (PCW) insurer, the size of its advantage over peers may not be what it once was," Berenberg added.

Admiral was down 0.52% on Tuesday morning as of 11:05 BST.

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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.

 

Admiral Market Data

Currency UK Pounds
Share Price 2,551.00p
Change Today -6.00p
% Change -0.23 %
52 Week High 2,837.00
52 Week Low 2,029.00
Volume 392,938
Shares Issued 306.30m
Market Cap £7,814m
RiskGrade 91

Admiral Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
81.05% below the market average81.05% below the market average81.05% below the market average81.05% below the market average81.05% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
35.42% above the market average35.42% above the market average35.42% above the market average35.42% above the market average35.42% above the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Income
54.60% above the market average54.60% above the market average54.60% above the market average54.60% above the market average54.60% above the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Growth
32.71% below the market average32.71% below the market average32.71% below the market average32.71% below the market average32.71% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 7
Sell 2
Strong Sell 1
Total 15
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Admiral Dividends

  Latest Previous
  Final Special
Ex-Div 09-May-24 09-May-24
Paid 07-Jun-24 07-Jun-24
Amount 35.40p 16.60p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 831 @ 2,551.00p
16:35 4,122 @ 2,551.00p
16:35 164,650 @ 2,551.00p
16:35 2 @ 2,551.00p
16:35 163 @ 2,551.00p

Admiral Key Personnel

CFO Geraint Jones
CEO Milena Mondini de Focatiis

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