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https://www.walesonline.co.uk/news/wales-news/admiral-shares-fall-staff-rewarded-26415495.amp
had a top up this morning to in the £19's, admiral are a well run company i have motor's insured with them over the years and can't fault their service to me
Insurance premiums on the continent much lower than ripoff U.K., however, does mean these admiral can’t compete with the European insurers, losing money. This will turn into another Direct Line, just the start. U.K. dividend stocks are death, capital destructive.
Also ...final dividend fell 27% to 52p .. took a few this morning on dip , looking for bounce back, see what happens...atb
Thankyou for posting results
Cause for optimism I'd say:
Turnover up 5%, but impact of increased costs means net revenue down 4%
Number of customers up 11% - 8% in UK and 13% internationally
It’s out onSharepad. Final divi and special 52p on June 2nd.
No rns on lse??
Decent results considering what's happened at DLG.
Worth a read - https://www.ii.co.uk/news/earnings-preview-focus-on-admiral-dividend-amid-shift-to-ifrs-17-al1678104018538075600
The IFRS17 accounting change impacts all insurers.
The RNS says it's for the Employee Share Incentive Plan to be issued time to time. Not sure this is a sign of something going wrong. Could be the opposite. Hopefully rewards for better than expected final this week?!
What's gone wrong this time - why the block listing of 3,000,000 new shares?
Well my average was much lower but was still suffering. This latest batch has helped and has done well in the short time I've held it.
If it is able to maintain the divi then great but it is a risk with the direct line read across and expectations for the economy this year.
To be honest Mr Market has been good this year and I was expecting much worse and not planning to buy anything for a while.
Things might turn for the worse I suppose.
Gerry557... Yeah, I'm holding on too and hoping the dividend is at least maintained.
Regarding Munich Re..
They took a stake of just under 10% (29.72m shares) on the first of Sept 2021 when the share price was over 3600p.
They reduced their stake at the end of October 2021 to just under 5% after selling 12.1m shares at 2940p and in November 2022 sold another 7.4m at 2023p. They have said they won't sell any more before November 2023, but as they now only hold 1.765% (just under 5.3m shares) it's pretty academic anyway.
I'm just pleased my average price is nowhere near the roughly 3600p that Munich Re's is :)
Good luck to LTHs.
IAPR, I think you are correct. I too was rushing to identify the reason for the drop and that came up on the news and I got dates mixed up.
The Direct line read across is probably worse news as it might effect earnings. Hopefully they can maintain a dividend even if any special is forgotten.
I suppose I could sell today's and take some funds off the table at a profit but more likely stick it out longer term.
lots of chunky buys.... orders filling up. rerate soon :)
@Gerry557... I thought the Munich Re sale of 7.4m shares at 2023p was completed 2 months ago (I think the year before they sold 12.1m shares at 2940p) and have undertaken not to sell any more until at least Nov 2023, so had no effect on today's SP fall (I might be wrong).
Today's fall was in response to Direct Line's abject trading statement this morning that cancelled this year's final and interim dividends. They blamed bad weather, but in my opinion it's a fairly decent business saddled management that are swimming way out of its depth.
The knee-jerk reaction allowed me to pick up a few more ADM shares at 1931p this morning. I'm not sure if that was a foolhardy move or not, but will probably have to wait until the results in early March to find out.
Good luck to all holders. Please DYOR.
Check out the DLG price to see why this dropped. Now recovering.
Munich Re selling off its £7.4 stake @2023p and probably a read across of direct line poor results
Why is the SP going down here?
I suppose Direct line news might have some read across too. They also cancelled their final Dividend.
Munich Re Not Mr
**** off you slimmy low life
Paul you spoke too soon.
The Mr placement allows me to add although a smaller tranch than I would have planned as I used some of the funds yesterday for a buy as my other broker had technical issues.