Admiral: Upgrade To Neutral After U.K. Motor Premiums Rebound [Seeking Alpha]
ADMIRAL GRP PLC UNSP/ADR (AMIGY)
NASDAQ:AMEX Investor Relations:
admiralgroup.co.uk/node/5.html
Company Research
Source: Seeking Alpha
Admiral: Upgrade To Neutral After U.K. Motor Premiums Rebound Summary Since our Sell recommendation in February, Admiral shares have been flat including dividends, slightly worse than the FTSE All-Share index. Our Sell case was based on continuing falls in U.K. motor insurance premiums, Admiral reserve releases being too high, and valuation. We are revising our view after 19H1 results – U.K. motor premiums have started to rebound, and Admiral has more reserve release to come. Shares have a 6.1% dividend yield but remain at a premium to peers, due to its the continuing flow of past reserves into current earnings. At 2,120p, we upgrade Admiral to Neutral, but remain cautious about the sector due to its mature status and the abundance of capital. Introduction our Sell recommendation on Admiral Group plc OTCPK:AMIGF OTC:DIISF OTC:HNGGF Admiral Share Price vs. Peers & FTSE All-Share (Since Feb 20) Source: Yahoo Finance (29-Aug-19) Following Admiral's 19H1 results last week Sell Case Recap
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AMIGY
News
- Admiral Group (LON:ADM) Will Pay A Dividend Of £0.52 [Yahoo! Finance]Yahoo! Finance
- Admiral Group (LON:ADM) Will Pay A Dividend Of £0.52 [Yahoo! Finance]Yahoo! Finance
- Analysts' Revenue Estimates For Admiral Group plc (LON:ADM) Are Surging Higher [Yahoo! Finance]Yahoo! Finance
- Director/PDMR Shareholding [Yahoo! Finance]Yahoo! Finance
- Admiral Group Full Year 2023 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
AMIGY
Analyst Actions
- 1/25/24 - JPMorgan Chase & Co.