Admiral Group (ADM)

Sector:

Insurance

Index:

FTSE 100

2,841.00p
   
  • Change Today:
      12.00p
  • 52 Week High: 2,849.99p
  • 52 Week Low: 2,015.00p
  • Currency: UK Pounds
  • Shares Issued: 302.84m
  • Volume: 146,895
  • Market Cap: £8,604m
  • RiskGrade: 91

Berenberg raises target price on Admiral, expects 'amazing' 2021 performance

By Iain Gilbert

Date: Thursday 15 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Analyst at Berenberg hiked their target price on insurance firm Admiral Group from 2,758.0p to 2,938.0p on Thursday, stating 2021 would be an "amazing" year for the stock.
Admiral, which released a trading update on Monday that contained "a positive profit warning" going into its interim, estimates that 2021 interim pre-tax profits will be between £450.0m and £500.0m versus the £286.0m seen in the first half of 2020.

As a result of the announcement, which Berenberg said also "clearly provides a positive read-across to other motor insurers", it opted to raise its first-half estimates by "more than 40%", up to £453.0m.

"Ultimately, Admiral will report amazing numbers for H1 2021 as the company has benefited even more from the pandemic than it was perceived before. The group is also benefiting from a continuing long-term trend of fewer serious bodily injury claims ... and again, much more than expected by the market," said Berenberg, which reiterated its 'hold' rating on the stock.

However, despite this, the German bank still thinks there will be some headwinds to earnings in outer years, driven by a weaker pricing environment and a lack of visibility on reserve releases.

"We feel some frustration from investors that despite Admiral continuing to deliver excellent results the transparency of earnings is relatively low and guidance on reserve releases is very limited. More details will be provided on the breakdown of this large profit beat during the half-year presentation on 11 August."

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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 2,841.00p
Change Today 12.00p
% Change 0.42 %
52 Week High 2,849.99p
52 Week Low 2,015.00p
Volume 146,895
Shares Issued 302.84m
Market Cap £8,604m
RiskGrade 91

Admiral Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.19% below the market average90.19% below the market average90.19% below the market average90.19% below the market average90.19% 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
83.31% above the market average83.31% above the market average83.31% above the market average83.31% above the market average83.31% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average
Income
29.29% above the market average29.29% above the market average29.29% above the market average29.29% above the market average29.29% above the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Growth
40.14% below the market average40.14% below the market average40.14% below the market average40.14% below the market average40.14% 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

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 5
Sell 4
Strong Sell 1
Total 14
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 28-Mar-2024

Time Volume / Share Price
16:20 12 @ 2,841.00p
16:20 7 @ 2,841.00p
16:20 204 @ 2,841.00p
16:20 25 @ 2,841.00p
16:19 61 @ 2,841.00p

Admiral Key Personnel

CFO Geraint Jones
CEO Milena Mondini de Focatiis

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