Company website is www.admiralgroup.co.uk

Investec says that dark clouds [are] forming at insurance giant Admiral, as it reiterates its sell rating and 843p target.

Shares plunged on Wednesday morning after the firms statement which warned 2011 profits would be at the lower end of expectations (just 10% higher than 2010) due to a jump in personal injury claims.

We see this IMS as an admission that Admiral is not immune from market forces and this will disappoint the market, we believe. It remains our view that significantly out-performing a commoditised market for sustained periods is impossible, said Investec analyst Kevin Ryan.

investec what do they know LOL

in these market to increase profits by JUST 10 % is good going and that is only if things go bad currently ahead of that - i wonder how Investec are performing right now lol

Markets are forward looking, hence the drop.

I remember Independent insurance which rose from nothing to 2000p and then collapsed and the Director Alan Bright went to jail for fraud..I got out of them a week before they went to the wall..not suggestimg any wromg doing here.

Its dog eat dog in the insurance market.

lol yes - i know a real good buy homeserve LOL!!! wonder how much worse it will get there - thousands of wrong selling claims going in against them!!

wouldnt want to be in homeserve right now - in fact anytime at all!!!

hmm mini revival

lol lol lol bouncing!!!!!!!!!!!!!!!!!!!!!!!

yeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

easy wonger again!! :-))))))))))))))))))))))))))) ftse 100 co bouncing

get in there!!!!!!!!!!!!!!!!!!!

:-)))))))))))))))))))))))))))))))

lol back to 9 squid

strong last hour ahead - yeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaa

we're off again

what a day - iis been waiting for a weakness like this and been snapping up panic sells and at triggers - additionally ceo bought another 1 million shares - looking fwd to tomorrow - satisfactory day at the office :-)

very interesting day tomorrow especially in current mkt conditions - wonder how many will follow the money the 1M ceo buy today and other director buying is more than interesting additionally:

09-Nov-11 Nomura Buy 887.50p 1,900.00p - Reiteration

gla

Still a sell.

:-)

"UBS has downgraded insurance titan Admiral from buy to neutral and slashed the target price by a whopping 45%, from 1,610p to 890p, following the groups statement yesterday which resulted in over a quarter of its market value being lost.

Although we believe that Admiral remains among the best managed non-life companies in Europe, earnings transparency is low until the reasons for the acceleration in large bodily injury claims become clear, said UBS analyst James Pearce.

Other brokers have cut their ratings and/or targets today on the stock: Nomura kept its buy rating but reduced its target price from 1,900p to 1,100p; Credit Suisse downgrades from neutral to underperform, target cut from 1,500p to 1,100p."

Brokers' round-up, major downgrades for Admiral Group
StockMarketWire.com
UBS downgrades Admiral Group from buy to neutral, target price cut from 1610p to 890p.

Credit Suisse downgrades Admiral Group from underperform to neutral, target price cut from 1500p to 1100p.

Deutsche Bank downgrades Admiral Group from buy to hold, target price cut from 1500p to 1100p.

Collins Stewart downgrades Admiral Group from buy to hold, target price cut from 1700p to 880p.

Numis downgrades Admiral Group from buy to add, target price 1040p.

Its disgraceful (but nothing new) the number of brokers that have recently been issuing buy notes on this with 19 targets.