Admiral Group (ADM)

Sector:

Insurance

Index:

FTSE 100

2,200.00p
   
  • Change Today:
    -55.00p
  • 52 Week High: 2,330.00
  • 52 Week Low: 1,887.00
  • Currency: UK Pounds
  • Shares Issued: 294.04m
  • Volume: 786,147
  • Market Cap: £6,469m
  • RiskGrade: 241

Former Admiral CEO's wife puts $25m into struggling Compare.com

By Josh White

Date: Thursday 01 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Admiral Group has entered into an agreement with its former group chief executive officer Henry Engelhardt and his wife Diane Engelhardt, whereby Diane was investing $25m (£19.42m) into its US comparison service Compare.com.
The FTSE 100 insurance firm said that as a result, Diane Engelhardt would hold 17% of the share capital of Compare, with Admiral owning 59% and White Mountains and Mapfre USA the remaining 24%.

Henry Engelhardt would join the board of Compare.

The investment was being made at a 15% discount to the valuation of previous funding rounds, which Admiral said reflected "challenging" current trading conditions.

As a result, Admiral expected to record an impairment against the carrying value of Compare with its full year results.

The current outlook was for the full year Admiral share of loss to be in line with the guidance at the 2018 half year results of $8m to $13m.

Separately, Admiral provided Compare up to $10m by way of a convertible loan.

"We are delighted to secure this investment and we look forward to working closely with Henry, who has deep knowledge and expertise of Compare and the US market," said Compare chief executive officer Andrew Rose.

David Stevens, Admiral Group chief executive officer, added that as the company outlined in its half-year results, Compare was facing challenging market conditions in 2018.

"I remain optimistic over the long-term potential for the price comparison channel in the US and I very much look forward to having Henry as a close partner to continue building on the strong foundations already in place at Compare."

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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 2,200.00p
Change Today -55.00p
% Change -2.44 %
52 Week High 2,330.00
52 Week Low 1,887.00
Volume 786,147
Shares Issued 294.04m
Market Cap £6,469m
RiskGrade 241

Admiral Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.93% below the market average83.93% below the market average83.93% below the market average83.93% below the market average83.93% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average
Price Trend
82.97% above the market average82.97% above the market average82.97% above the market average82.97% above the market average82.97% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
30.58% above the market average30.58% above the market average30.58% above the market average30.58% above the market average30.58% above the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Growth
76.96% above the market average76.96% above the market average76.96% above the market average76.96% above the market average76.96% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 9
Sell 1
Strong Sell 4
Total 17
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 07-May-20 07-May-20
Paid 01-Jun-20 01-Jun-20
Amount 56.30p 20.70p

Trades for 03-Apr-2020

Time Volume / Share Price
16:37 19,712 @ 2,200.00p
16:35 254,875 @ 2,200.00p
16:29 11 @ 2,201.00p
16:29 36 @ 2,201.00p
16:29 100 @ 2,201.00p

Admiral Key Personnel

CEO David Stevens
Chair Annette Court
CFO Geraint Jones

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