Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHSTG.L Share News (HSTG)

  • There is currently no data for HSTG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

JP Morgan upgrades Direct Line Group and Admiral

Mon, 09th Mar 2020 13:12

(Sharecast News) - Analysts at JP Morgan upgraded their recommendations for UK auto insurers Admiral and Direct Line in anticipation of continued discipline on the part of both firms on margins.
A divergence between market-wide claims inflation and pricing was evident in 2019, but listed insurers had managed to navigate those troubled waters "fairly well", the investment bank said, describing margins as "surprisingly robust" outside of Hastings.

"We expect this discipline to continue, and hence for the sector see low-growth continuing, but against the wider macro backdrop and ongoing COVID-19 concerns we believe "low growth" will increasingly be seen as attractive," JP Morgan said.

In their view, Direct Line, whose shares they upgraded to 'overweight' (and nudging up their target from 3450p to 350.0p), had emerged from the most recent earnings season looking strongest, with both a better-than-expected underlying earnings performance and a highly attractive capital return profile.

JP Morgan also upgraded its view on Admiral, from 'underweight' to 'neutral', and revised its target price from 1,925.0p to 2,125.0p, on the back of a higher likelihood of high reserve releases extending into 2020.

For Saga, another non-life UK insurer, which they rated at neutral, they cut their dividend per share forecast to zero "in light of the travel and cruise outlook".

More News
13 Nov 2020 17:49

IN BRIEF: Hastings Takeover By Consortium Near Completion

IN BRIEF: Hastings Takeover By Consortium Near Completion

Read more
30 Oct 2020 16:11

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

Read more
24 Sep 2020 16:05

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

Read more
15 Sep 2020 15:50

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

Read more
10 Aug 2020 09:43

UK BROKER RATINGS SUMMARY: RBC Upgrades Hastings To Sector Perform

UK BROKER RATINGS SUMMARY: RBC Upgrades Hastings To Sector Perform

Read more
10 Aug 2020 08:07

LONDON BRIEFING: Unilever To Complete Unification In November

LONDON BRIEFING: Unilever To Complete Unification In November

Read more
5 Aug 2020 17:05

LONDON MARKET CLOSE: FTSE 100 Buoyed As Gold Charges Past USD2,000

LONDON MARKET CLOSE: FTSE 100 Buoyed As Gold Charges Past USD2,000

Read more
5 Aug 2020 12:14

LONDON MARKET MIDDAY: FTSE 100 Buoyed By Gold's Historic Rally

LONDON MARKET MIDDAY: FTSE 100 Buoyed By Gold's Historic Rally

Read more
5 Aug 2020 11:01

Hastings Group Agrees To Takeover Bid; Reports Rise In Revenue

Hastings Group Agrees To Takeover Bid; Reports Rise In Revenue

Read more
5 Aug 2020 10:54

UK WINNERS & LOSERS SUMMARY: Hastings Rises 18% After Agreeing Takeover

UK WINNERS & LOSERS SUMMARY: Hastings Rises 18% After Agreeing Takeover

Read more
5 Aug 2020 07:53

Hastings agrees to £1.6bn takeover by consortium as profits rise

(Sharecast News) - Hastings on Wednesday said it had agreed terms on a £1.6bn takeover by a consortium led by Finnish insurer Sampo and its biggest shareholder, Rand Merchant Investment Holdings.

Read more
4 Aug 2020 09:48

UK BROKER RATINGS SUMMARY: Berenberg Starts Fresnillo At Sell

UK BROKER RATINGS SUMMARY: Berenberg Starts Fresnillo At Sell

Read more
30 Jul 2020 10:40

UK WINNERS & LOSERS SUMMARY: Lloyds Down 8% After Posting Interim Loss

UK WINNERS & LOSERS SUMMARY: Lloyds Down 8% After Posting Interim Loss

Read more
30 Jul 2020 10:04

Hastings 'an attractive proposition' for Sampo, says Berenberg

(Sharecast News) - Insurer Hastings was on the rise for the second day running after confirming late on Wednesday that it had been approached by a consortium led by Finnish insurer Sampo and its biggest shareholder, Rand Merchant Investment Holdings, about a possible cash offer.

Read more
29 Jul 2020 16:16

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.